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Aid agencies call for cancellation of Philippines’ foreign debts

By Crina Boros | Thu, 5 Dec 2013 16:57 PM
hum-aid hum-ref

LONDON (Thomson Reuters Foundation) – Lenders should cancel the Philippines’ international debt of $60 billion to help the country pay for work needed to recover from Typhoon Haiyan and prepare for future emergencies, Christian Aid said on Thursday, a view echoed by other aid agencies.

The Philippines pays its international lenders nearly $22 million a day in interest, so has paid more than $550...

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