Several participants expressed the need for unconditional cancellation of debt.

Expiry, cancellation and replacement

C. The Group of Eight proposals for debt cancellation for Heavily Indebted Poor Countries

Cancellation of prior years obligations

Review, reobligation and cancellation of obligations

So whatever is responsible for this cancellation is extremely tightly coupled with tempo causality.

Noted the request of Iraq for the cancellation or reduction of their sovereign debt.

Light bars represent debt cancellation or rescheduling.

In absolute terms, Russia is among the leaders in debt cancellation for the poorest countries.

This was one of the reasons for the cancellation of the visit to Guantánamo Bay.

For most HIPC countries, this would require exclusively grant based finance and 100 per cent debt cancellation.

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We are heartened and add our encouragement to those governments supporting total debt cancellation for the poorest nations.

This year, the Group of Eight countries have pledged increased aid and debt cancellation for low income countries.

Secondly, debt cancellation and reduction should be extended and intensified.

Debt cancellation should not be tied to official development assistance.

Options for lower debt burdens on Governments of heavily indebted developing countries include debt cancellation and debt swaps for sustainable development.

Additionally, on 22 November 2004, UNHCR issued a Note on the Cancellation of Refugee Status.iv This document, intended for governments, legal practitioners, decision makers and the judiciary, addresses the legal principles and standards governing cancellation of refugee status by States.

Funds from cancellation of obligations, if any, would be retained in the special account for carrying out RPTC activities.

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(h) Savings on or cancellation of obligations from the prior biennium

Debt relief, debt swaps or debt cancellation could offer important means for mobilizing resources for accelerating progress towards the water and sanitation goals.

4. Application for financial assistance

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iv UNHCR, Note on the Cancellation of Refugee Status, 22 November 2004.

He said that his country did not benefit from debt cancellation measures.

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We welcome the G 8 proposal for irrevocable debt cancellation for the HIPC countries, a proposal that has generated high expectations in eligible countries.

We welcome the declaration by the Group of Eight favouring debt cancellation, time bound commitments for enhanced ODA and the efforts for additional innovative financing.

However, we appeal for debt cancellation for all least developed countries in order to enable them to redirect their meagre resources to national development programmes.

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Additionally, after securing the cancellation of the 46 million hurricane Hugo loan in December 2001, the Federal Emergency Management Agency also approved full cancellation of the outstanding balance of the 185 million hurricane Marilyn loan.

We welcome the declaration of the Group of Eight favouring debt cancellation, time bound commitments for enhanced official development assistance, and efforts for additional innovative financing.

(3) such behaviors as establishment, alteration, merger, cancellation and strategic cooperation of insurance institutions

The quickest means of doing so is substantial and generous debt cancellation and relief.

An amount of 3,277,774 net saving arises from the cancellation of 2002 2003 obligations.

Debt cancellation would enable us to devote all of our financial resources to development.

Total expenditures for the same period amounted to 961.9 million, inclusive of savings on or cancellation of prior period obligations of 24.8 million.

That underscores the need for the cancellation of debts that cannot be serviced without placing a burden on impoverished people in the region.

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