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Bono Applauds Debt Cancellation Drive
WASHINGTON (AFP) - Irish rock star Bono applauded a plan by the world's top finance officials to wipe out 40 billion dollars in multilateral debt to poor countries.
He said an agreement by the World Bank and the International Monetary Fund (IMF) to cancel the debts was a "great day for the poorest people on the planet."
"This is not a charity issue, this is a justice issue," he said, saying the "next injustice to be torn down is the bullying tactics" of the World Trade Organisation.
Two days of meetings of ministers from the world's richest countries plus World Bank and IMF policymakers reached an unexpected agreement on debt relief here over the weekend.
The decisions now go to the executive boards of the two institutions, where rejection is considered highly unlikely.
Under the plan an estimated 40 billion dollars in debt owed by 18 highly impoverished countries, including the 14 in Africa, will be wiped out.
Bono Applauds Debt Cancellation Drive
WASHINGTON (AFP) - Irish rock star Bono applauded a plan by the world's top finance officials to wipe out 40 billion dollars in multilateral debt to poor countries.
He said an agreement by the World Bank and the International Monetary Fund (IMF) to cancel the debts was a "great day for the poorest people on the planet."
"This is not a charity issue, this is a justice issue," he said, saying the "next injustice to be torn down is the bullying tactics" of the World Trade Organisation.
Two days of meetings of ministers from the world's richest countries plus World Bank and IMF policymakers reached an unexpected agreement on debt relief here over the weekend.
The decisions now go to the executive boards of the two institutions, where rejection is considered highly unlikely.
Under the plan an estimated 40 billion dollars in debt owed by 18 highly impoverished countries, including the 14 in Africa, will be wiped out.