FREE MARKETS HAVE been blamed for many things, but last month they were implicated in something new: blocking debt relief for tsunami-hit countries.
The problem arose after G7 finance ministers decided that to help out the affected countries they would not expect debt repayments from them for at least a year. Since they owe the Paris Club of bilateral creditors $5 billion this year, the gesture was more than merely symbolic.
Yet doubts were soon raised about the likelihood of full implementation.
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