Myanmar on Monday announced a deal with international lenders to cancel nearly $6 billion of its debt, another milestone in the rapid transformation of the former junta-ruled nation.
This general view shows the docks at the Myanmar International Terminals, at Thilawa industrial zone project near Yangon, on January 4, 2013. Myanmar said on Monday that the Paris Club of creditor nations had agreed to cancel half of its debts, another milestone in the rapid transformation of the former junta-ruled nation.
The former pariah state also cleared its arrears to the World Bank and the Asian Development Bank (ADB) with the help of a bridge loan from Japan, removing another key hurdle for the resumption of international aid.
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