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Viewed in present-value terms, the initiative itself offers debt reduction of $27.5 billion, which is more than double the $12.5 billion available before.That is a big change if it attracts genuinely new aid money.
Accordingly, our results show that snow-ball effects associated with the cyclical component of primary deficit are responsible by a cumulative debt reduction of 18.04 % points.
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Adding $2 trillion in new debt reduction on top of that would be a "notable achievement," as the Center puts it, in a capital supposedly bound by gridlock.
But finance ministers are still at odds over the effect of debt reduction on economic growth.
Expanding the aims of the Tropical Forest Conservation Act, I will ask Congress to provide $100 million to support the exchange of debt reduction for the protection of tropical forests.
The banks — Citigroup, Wells Fargo, Bank of America, JPMorgan Chase and former mortgage divisions of Ally — are required to use debt reduction for 60 percent of their consumer relief.
The International Monetary Fund and the World Bank required – as a condition for new lending and for refinancing the debts – reduction of public spending.
All these factors will affect the rate of debt reduction, for better or worse.
We can also use the power of debt reduction to relieve poverty and protect the resources that sustain life in the Americas.
Mr Osborne said that the government would "stick to its course" of debt reduction to bring "balance" to the economy.
France Télécom faced more gloomy news yesterday when Moody's Investor Service cut its short- and long-term debt ratings, saying the telecoms group had deviated from its debt reduction plans of a year ago.
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