The Irish rock band's lead singer, Bono, has become the frontman for a worldwide campaign to cancel the debts of poor countries.

ECONOMIST: Inviting China to dinner

The United States also aims to increase foreign assistance to ease poverty, boost education, cancel the debts of poor countries, and launch a "green revolution" that produces sustainable supplies of food.

CNN: Biden promises 'new tone' in U.S. foreign affairs

In a further boost to Burma, the Paris Club of creditor nations has agreed cancel almost half of its debts to member countries.

BBC: Burma gets Asian Development Bank and World Bank loans

More recently, the central bank said it would cancel 80% of the debts owed to it by eight troubled banks, in order to avoid a crisis of confidence and to make the banks attractive to buyers.

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Robert decided to cancel his card but his account with the card company carried on, so the debts kept piling up.

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