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09/30/2004:

"Africa's debt burden can only be tackled by write-off: UN"

GENEVA : Africa is handing over more money to its creditors than it is receiving from their loans, the UN's trade and development think-tank said in a report advocating a debt write-off for the continent.

The United Nations Conference on Trade and Development (UNCTAD) said Africa had received about 540 billion dollars (438 billion euros) in loans between 1970 and 2002, and paid back some 550 billion dollars (446 billion euros) including interest payments in the same period.

Full Article : channelnewsasia.com