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IDB Governors discuss terms for cancellation of debts for Bolivia, Guyana, Haiti, Honduras and Nicaragua

The Committee of the Board of Governors of the Inter-American Development Bank this week discussed terms for granting debt relief to Bolivia, Guyana, Haiti, Honduras and Nicaragua.

As a result of a meeting held in Amsterdam the Committee, a working group of the Board of Governors, proposed technical mechanisms for canceling the balances of loans from the Fund for Special Operations (FSO) outstanding on December 31, 2004 for those five countries.

The Committee's recommendations must be ratified by vote by the IDB's 47 member countries. Prior to that, the IDB Board of Executive Directors must approve a reform proposal presented by management on the future operation of the FSO, the Bank's concesional lending window.

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