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Rio is targeting significant debt reduction in 2014.
All those deals included significant debt reduction in exchange for guarantees of principle and interest payments.
That is a prelude to a hoped-for debt reduction in 2013.
But it did some useful work on debt reduction in the developing world, and encouraged economic development in Africa.
The scope for increasing exports is limited by the process of debt reduction in other rich economies.
Peripheral countries also need structural reforms and a credible strategy for delivering debt reduction in the long run.
Similar(37)
Debt reduction, in exchange for an equity stake, is a standard strategy for dealing with failing companies.
He pledged surpluses and debt reduction and, in his first year in office, to create 1m jobs.
President Barack Obama's most dramatic gesture in this direction was convening the Bowles-Simpson debt reduction commission in February 2010, long before Democrats lost control of the House of Representatives.
Saner voices know that much of this "immediate debt reduction" panic in conservative circles is simply cover for achieving draconian cuts in basic welfare programs -- cuts that then place the full burden of any recovery strategy onto the shoulders of those least able to bear it: namely the poor.
It doesn't really fit with Osborne's narrative, but he has significantly modified his deficit and debt reduction targets in response to slower than expected growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com