World Bank head praises deal to cancel debt

NEW World Bank chief Paul Wolfowitz yesterday praised the historic deal to cancel the foreign debt of some of the world’s poorest nations.

Mr Wolfowitz spoke to reporters soon after arriving in the Nigerian capital, Abuja, on the first leg of a four-nation Africa tour and said he was hopeful debt relief was also on the way for Africa’s biggest debtor, Nigeria.

“I’m really delighted ... because I think it’s a very important, successful outcome,” Mr Wolfowitz said.