Debt forgiveness praised

National Catholic Reporter, April 21, 2006

WASHINGTON -- The chairman of the U.S. bishops' Committee on International Policy has welcomed a decision by the World Bank executive board to forgive the debt of 17 of the world's heavily indebted poor countries. "This step will relieve the burdens on some of our most vulnerable brothers and sisters around the world," said Bishop Thomas G. Wenski of Orlando, Fla.

In late March the World Bank's board of executive directors finalized details needed to begin canceling all remaining debt on International Development Association loans to 17 heavily indebted poor countries.

The decision is slated to take effect with the start of the bank's new fiscal year July 1. It could lead eventually to more than $37 billion in additional debt relief to the 38 nations, mostly in Africa.