Britain writes off debts

Britain prepares to write off billions of dollars worth debts of some of the poor countries of the world, Chancellor of Exchequer Gordon Brown told the BBC on Friday. It is reported that the official declaration is to be made on Tuesday by the Finance Minister.
Brown said that Uganda, Mozambique, Mauritania, and Bolivia are among the countries whose debts are to be written off by the end of Jan. 2000.
Brown also said that the gesture is to be extended to countries under conditions that they do not spend funds on bureaucracy or armament.
Debt campaigners had launched the 'Jubilee 2000 Movement,' to encourage the G8 countries to write off debts of the group of countries of which Nigeria, Vietnam, Sudan and Congo are examples, also known as Heavily Indebted Poor Countries.
With $28.2 billion of debts, Nigeria is the country with the heaviest economical burden. It i followed by Vietnam, indebted $23.9 billion. Thi Ivory Coast's debt totals $12.4 billion, followed by Sudan, with $10.7 billion.