International Development: U.S. cancels Zambia's debt

The United States has cancelled Zambia's $280 million debt. Upon signing the agreement, US Ambassador to Zambia, Carmen Martinez, said cancellation of Zambia's debt was part of a joint effort to reduce poverty in the southern African country.

Zambia's Minister of Finance Ng'andu Magande promised that the capital freed by the debt cancellation would be put to good use for the benefit of Zambian people.

Oh good, that means that this time next year, I wont be posting any more articles on poverty in Zambia. By Dec 2006, no African politician will be living in poverty.