IDB Meetings End With No Debt Relief Agreement

The annual meeting of the Inter-American Development Bank ended with no agreement on debt relief for the region’s poorest countries. Haiti, Bolivia, Honduras, Nicaragua and Guyana had hoped the bank would agree to forgive as much as US$3.5 billion in debt, arguing they cannot afford the payments without cutting back on desperately needed social programs. Bolivia owes US$1.6 billion and Honduras another US$1.4 billion.