Algeria thanks Tony Blair for canceling poor countries' debts

Algeria, the current president of the Organization of African Unity has expressed its satisfaction over the initiative taken by Britain to cancel debts owed by the most indebted countries at a rate of 100%.

Algerian President Abdelaziz Bouteflika said in a message he addressed to British Prime Minister Tony Blair that the British initiative will back the initiatives taken by World Bank and the International Monetary Fund towards the most indebted countries, with the majority of these countries located in Africa.

The Algerian president indicated that this measure will permit the seven major industrial states (G7) to think of pursuing similar steps to alleviate the debts of these countries .