IDB To Forgive Debt

The region’s largest multilateral lender, the Inter-American Development Bank (IDB), said Friday it had member agreement on a framework for debt relief for Bolivia, Guyana, Haiti, Honduras and Nicaragua. The Bank gave no final details of the agreement and concluded that a board of governors meeting in January 2007 in Amsterdam will define technical details for the implementation of the new debt reduction framework, with a presentation of agreements to be given in the Bank’s March meeting, due to be held in Guatemala City. The debt forgiveness will total between $2.1 billion and $3.5 billion, according to experts.