Aid agency welcomes chancellor's debt initiative - news from ekklesia

Aid agency welcomes chancellor's debt initiative - news from ekklesia

By staff writers
5 Jan 2005

Aid agency welcomes chancellor's debt initiative

-05/01/05

The Catholic aid agency Cafod has welcomed the initiative of the UK Chancellor Gordon Brown to suspend debt service payments of countries affected by the Indian Ocean tsunami.

The main beneficiaries would be the worst hit countries, Indonesia and Sri Lanka, which will have reconstruction bills rising into billions of dollars.

The chancellor said the plan would initially save the most affected countries about £1.58bn in repayments.

Aid agency welcomes chancellor's debt initiative

-05/01/05

The Catholic aid agency Cafod has welcomed the initiative of the UK Chancellor Gordon Brown to suspend debt service payments of countries affected by the Indian Ocean tsunami.

The main beneficiaries would be the worst hit countries, Indonesia and Sri Lanka, which will have reconstruction bills rising into billions of dollars.

The chancellor said the plan would initially save the most affected countries about £1.58bn in repayments.

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