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IMF extends debt-relief intiative for poor countries to 2006

WASHINGTON, Friday (AFP)

The International Monetary Fund has agreed to a two-year extension of a debt-relief initiative for poor countries that was scheduled to wind up this year, the IMF announced. It said the decision to extend the life of the Heavily Indebted Poor Countries (HIPC) initiative was taken earlier this month by the IMF executive board "to provide the opportunity for the remaining countries that could qualify to establish a track record that would allow their consideration for HIPC relief."
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