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The IDB Committee of Governors, which recently met in Amsterdam (the Netherlands), agreed to the cancellation of US$3.5 billion in favour of the five poorest Latin American countries: Bolivia, Honduras, Guyana, Haiti and Nicaragua. This decision will be made official at the meeting of the IDB Board of Governors to be held next March 16-20 in Guatemala.

Delegations of the countries involved took part in the meeting and communicated the requests of their respective governments in favour of debt cancellation. A joint position had been previously agreed to be presented before the Governors.

The IDB Committee of Governors had approved debt cancellation last November 17 in Washington but the amounts to be cancelled still remained to be defined in Amsterdam. The final resolution provides the cancellation of debts prior to December 2004, which supposes the cancellation of approximately the following amounts, in addition to relief of interests accrued thereon:

Honduras - 1.1 billion dollars
Bolivia - 736 million dollars
Nicaragua - 808 million dollars
Guyana - 365 million dollars
Haiti - 468 million dollars

This decision will be made official at the meeting of the IDB Board of Governors to be held next March 16-20 in Guatemala.

Civil society organisations working in the Justice for Latin America Campaign made their position known to the IDB, demanding a broad and unconditional cancellation.

Related Information:

* After IDB debt cancellation the challenge lies in responsible indebtedness, by Fundación Jubileo (Bolivia)

* CSO letter to IADB on debt cancellation

* IDB Press release

* The IDB takes a step further torwards debt cancellation

* Debt sustainability analysis with a human development approach, by Fundación Jubileo (Bolivia)

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