Britain to write off debt

Uganda is among four countries whose debts Britain intends to write off. British Chancellor Gordon Brown told the BBC that Uganda - along with Mozambique, Bolivia and Mauritania - should have qualified for debt forgiveness by the end of January. "It's no longer a question of people talking about what they are going to do, it is now a question of action," he stated. The move has been hailed by lobbyists for third world debt cancellation. Jubilee 2000 described it as "wonderful news" and predicted a domino effect by other countries. The BBC said in return for the countries promising that the money will not be spent on arms or bureaucracy, debt relief up to 100 percent will be given to around two thirds of the world's 41 poorest nations on a case-by-case basis.