IMF approves debt relief for poorest countries

FT.com / World / International economy - IMF approves debt relief for poorest countries:
"The International Monetary Fund's board on Wednesday approved 100 per cent debt relief on $3.3bn owed to the fund by 19 of the world's poorest countries
In a statement issued after the board meeting, Rodrigo Rato, managing director, said: "This is an historic moment, which will allow these countries to increase spending in priority areas to reduce poverty, promote growth and to make progress towards achieving the millennium development goals."/.../