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As a reward, Tanzania was granted debt relief in 2001.
Many of the people in the countries granted debt relief -- all in Africa and Latin America -- live on $1 a day or less.
At the heart of the problem is that Zambia is about to be granted debt relief by its creditors but will end up paying more next year.
In an era of unprecedented prosperity for rich nations, their financial leaders are promising a high-profile campaign to double the number of poor nations granted debt relief by year's end.
Several weeks before the World Bank and the International Monetary Fund granted debt relief to 22 poor nations in December, evidence began to surface that one nation, Zambia, had "imprudent and irregular" dealings in mineral sales that cost the African nation $60 million in lost revenues, according to a confidential auditor's report that detailed the losses.
He made a televised address amid an escalating corruption scandal involving the head of his spy service. 1 A Plan for Debt Relief Financial leaders of rich nations are planning to announce they will double the number of poor nations granted debt relief by year's end at the annual meeting of international lending agencies in Prague next week.
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Jesse A. Helms, the crusty North Carolina Republican and a skeptic of foreign aid, said Bono changed his mind on granting debt relief to poor nations and increasing AIDS funding.
If the eurozone won't grant debt relief in advance, why should the IMF chip in its €16.4bn contribution to the latest bailout?
Moreover, private investors are not obliged to take the write-down, and two big holders of Greek debt, the International Monetary Fund and the European Central Bank, are not granting debt relief.
While canceling the debts would give these nations a much-needed lift, it would be a hollow gesture unless the International Monetary Fund were removed from the process of granting debt relief.
Because the Department of Education has made several announcements about the circumstances under which it'll grant debt relief, Ann Larson, who helped to organize the Corinthian Fifteen protest, and the strikers have made some educated guesses about who will be covered.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com