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Paris Club agrees debt relief for tsunami region

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The Paris Club, a group of 19 creditor nations, has agreed to a moratorium on debt repayments from countries affected by the tsunami disaster. Following a mid-January meeting, the Paris Club announced that considering the exceptional scale and devastating effects of the tsunami, it would not expect debt repayments from affected countries that requested such forbearance until the World Bank and the International Monetary Fund have fully assessed their reconstruction needs. According to the Wo