The US secretary of state has said the US will cancel the $391 million in debt owed by Liberia and urged other states to help the West African nation recover from conflict.

"We will cancel that debt, all of it, under the framework for highly indebted countries," Condoleezza Rice told a donor conference at the World Bank in Washington on Tuesday.


"We hope that this will help to relieve Liberia's crippling debt burden, a debt burden that today's leadership do not deserve," she said.


Al Jazeera English - Americas


Will this prove to be a good move in the future?

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Seems off the wall considering Liberia's size, history and future. More of a PR gesture than concern for Africa.

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Explain?

Seems like a good idea to me. Liberia's new President is an economist formerly of the world bank, so it seems unlikely she'll drag the country into more debt or anything like that.

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Liberia is 3M+ people, primarily agricultural, 80% of the population starving to death and virtually all industry has left, vowing to never return. You are aware of who's now head of the world bank?

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And the mony was not lend to the people of Liberia, but to the two corrupt dictators that ran it. Where is that money? It would be unfair to expect the people of Liberia to repay it.

Also, she won't stay in power long if the people don't see changes in their lives, and with such debt, she would never have been able to give it to them.

Good move US!

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