October 30, 2018 / 4:07 PM / 19 days ago

Saudi Arabia to waive $6 billion debts of poorer countries: cabinet statement

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017. REUTERS/Faisal Al Nasser

DUBAI (Reuters) - Saudi Arabia plans to waive more than $6 billion of debt owed to the kingdom by poorer countries, a cabinet statement said on Tuesday.

It did not name the countries, but said it was part of a larger U.N. development initiative.

Reporting by Hadeel Al Sayegh; editing by Andrew Roche

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