Exciting news out of Canada today. Jim Flaherty (the Minister of Finance) just announced that the Canadian government will forgive nearly $24 million owed by the Republic of Congo. This means that Canada has now cancelled close to $1 billion of debt owed by the world’s poorest countries.
“Canada’s debt relief program continues to support nations that have demonstrated a commitment to invest in the current needs of their citizens, even as they struggle with the debt burdens of their past,” said Minister Flaherty. “Today’s debt relief announcement will free up more resources that can be better invested in the health and education of the Republic of Congo’s citizens.”
To read the full release put out by the Canadian Department of Finance, click here.
Image from Department of Finance Canada website.