Excerpts from the BBC News article:
The Paris Club of rich creditor nations has offered to freeze the debts owed to them by countries affected by the Asian tsunami disaster...The Paris Club would be owed about $5bn (£2.7bn) in debt repayments this year...
Some development lobby groups, including UK aid agencies Oxfam and Action Aid, had urged the Paris Club to write off the debt altogether and not just defer the payments.
Oxfam said the Paris Club had failed to "take the bold steps needed on debt"...
Indonesia, one of the world's most indebted countries and the worst hit by the tsunami, has called for greater help...
Economists have warned that any debt relief must be structured carefully to avoid creating a heavier burden in the long-term. Wednesday's deal falls a long way short of this, involving only a deferment...A write-off was not thought to be under consideration even though the $5bn owing for 2005 would be, in purely financial terms, insignificant for the rich creditor nations.
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