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URGENT NEWS - Japan to Forgive Debt



Subject: URGENT NEWS - Japan to Forgive Debts Owed by Poor Countries

Japan to Forgive Debts Owed by Poor Countries

               AP
               02-JUN-99

               TOKYO (AP) -- Japan plans to waive $3.3 billion in
official
               development assistance loans to some of the world's most
               impoverished countries, the Asahi newspaper reported
               Wednesday. 

               A Foreign Ministry official confirmed that Japan was
               considering offering such debt relief up to 41 of the
Third
               World's most indebted countries. 

               But the official, who spoke on condition of anonymity,
said
               the sum of the debts to be forgiven was still undecided. 

               The debt relief will be a major topic at the Group of
Eight
               meeting in Germany later this month, the official said. 

               Japan, the biggest provider of Official Development Aid
               loans, will also ask other donor nations to provide more
               money to help impoverished nations extinguish more debt,
               the Asahi newspaper said. 

               At the end of March, the balance of Japan's ODA loans to
               the 41 countries totaled $8.2 billion, including $4.9
billion to
               four countries -- Myanmar, Kenya, Vietnam and Ghana --
               that the Asahi said may not be included in the relief
because
               of their failure to make progress in economic and
political
               reforms.