Debt Relief for Latin America

March 18, 2007

From the BBC

Five of the poorest countries in Latin America and the Caribbean are to have their national debts cancelled by the Inter-American Development Bank (IDB).
Bolivia, Guyana, Haiti, Honduras and Nicaragua owe a total of more than $4bn (£2bn).
The debt relief initiative is part of the IDB’s goal to cut poverty in half in Latin America by 2015.

This sounds like great news, but I do wonder at what cost this debt relief comes. I’m sure there are conditions attached- just read to the end of the article.

Yet some groups have urged the bank to do more.
The Washington-based Food and Water Watch called on it to abandon what it described as failed policies such as the privatisation of water utilities.

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