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Vol 41 No 1

Published 7th January 2000


Less debt, more growth

World Bank President Jim Wolfensohn, together with internationalist anti-debt campaigners, will get joint credit if the Bank and the international Monetary Fund's Heavily Indebted Poor Country initiative makes real progress this year. Most creditor countries have shifted from outright rejection of debt cancellation (especially Bank and Fund debts) to grudging acceptance. Now both Britain and United States President Bill Clinton say they want to write off all their loans to the 41 countries eligible for HIPC status - only six of which have qualified so far.

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