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What is "debt relief"

Longman Dictionary of Contemporary English
debt relief
noun
EXAMPLES FROM CORPUS
▪ But those who fought for debt relief should not underestimate the success they have had in changing the zeitgeist.
▪ Eight countries that have received debt relief are still paying more on their debts than on health and education.
▪ In the end the Group of Seven leading industrial nations supported the debt relief campaign for two reasons.
▪ So far their progress on debt relief has been agonisingly slow.
▪ This is a serious loss; the movement has raised the profile of debt relief and poverty reduction.
▪ This is making Jubilee 2000, the debt relief campaign, very angry.
▪ What is needed now is the kind of global protest movement that Jubilee 2000 developed over debt relief.
Wiktionary
debt relief

n. The partial or total forgiveness of debt.

Wikipedia
Debt relief

Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.

From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1982, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles.

Usage examples of "debt relief".

The bill also included the New Markets initiative, a large increase in biomedical research, health-care coverage for welfare recipients and disabled people moving into the workforce, and the Millennium Debt Relief initiative.

On the other hand, at least some of this might be covered in the form of preferential trade accommodations, debt relief, commercial credits, loan guarantees, or agricultural donations.

But instead of debt relief, they received Structural Assistance Plans listing an average of 114 “.

Now it seemed to me that we had a chance to build a bipartisan consensus on at least three initiatives: the New Markets program, the trade bill for Africa and the Caribbean, and the Millennium Debt Relief effort.

The initiative was consistent with a chorus of calls for debt relief from all over the world, led by Pope John Paul II and my friend Bono.

In the West and South, individuals were particularly hard hit, and these states passed laws to provide debt relief, but not before 1819, when the panic peaked.