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Former pariah state also clears arrears with World Bank, removing another key hurdle for resumption of foreign aid.
Ivorian president Alassane Ouattara says cancellation of the debt will help the West African country develop.
Paris Club finance officials who represent rich creditor nations are to discuss a possible freeze on debts owed by tsunami-affected countries.
The United States and France have said they must cooperate in the rebuilding of Iraq and agreed to help the war-ravaged country settle payments with its creditors.
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