G8 historical agreement on debt lifting for 18 poor countries

The $ 40 billion debt lifting agreement came as a result of the debates between the finance ministers from the world’s richest countries.

The nations who can now benefit the financial relief are: Benin, Bolivia, Burkina Faso, Ethiopia, Ghana, Guyana, Honduras, Madagascar, Mali, Mauritania, Mozambique, Nicaragua, Niger, Rwanda, Senegal, Tanzania, Uganda, and Zambia.

According to the UK chancellor of the Exchequer Gordon Brown, other countries will soon be eligible for help, respecting the targets set for good governance and the fight against corruption and improve their economic policies.

This proposal part of the Heavily Indebted Poor Countries program, which might have been unthinkable 20 years ago, is meant to provide important support for the alleged countries to escape the financial burden and to overcome their difficulties.