Multilateral debt: one step forward, how many back?

In July 2005, G8 governments made a bold announcement that they had agreed to cancel up to US$55bn owed by some of the world’s most impoverished and indebted nations. This followed significant public pressure by social movements and non-governmental organisations (NGOs) around the globe. It took the IMF and African Development Bank (AfDB) six months to deliver on their side of the cancellation and one full year of arduous behind-the-scenes political negotiations before the World Bank finally started to deliver on its part of what has become known as the Multilateral Debt Relief Initiative (MDRI).
More at: http://www.eurodad.org/whatsnew/reports.aspx?id=1234