"forgive debts" is a correct and common phrase in written English.
It means to cancel or release someone from their debts. Example: The government announced a new program to forgive debts of small business owners affected by the pandemic.
He has hectored and lobbied the developed world to forgive debts, set goals and increase aid to ameliorate the suffering of the extremely poor.
The inquiries into Mr. Rowland's affairs uncovered a raft of associates who were happy to give the governor gifts, forgive debts or let him in on favorable deals.
"The Torah commentary is, if you don't forgive debts every 50 years, you will end up with permanent classes of people, those who have, and those who don't," Ms. Messinger says.
So, it heartenend me just a tad to read today's story about Live 8, the worldwide concert aimed at pushing the world to forgive debts from the planet's poorest country.
It was all a smokescreen, because founder Doug Dobell was by all accounts the most generous of enthusiasts and friends, often willing to front money and forgive debts for jazz projects he liked.
In the general proposal, delegates urged richer nations to forgive debts of poorer countries while increasing aid to 0.7percentt of gross domestic product, a figure promised in 1970.
Why does someone forgive debt?
After Iraq Bogged down Forgive debt, not theft Make or break or muddle and sludge?
"You can't just wave a wand and forgive debt," he said.
Simply to forgive debt would raise questions of moral hazard, inviting companies to take wild risks on the assumption that they would be bailed out.
Banks have been all too willing to forgive debt or to provide new credit lines in order to keep deadbeats on their feet, and this has hindered the structural reforms needed to revive the economy.
