Debt relief in the context of "Seisachtheia"

⭐ In the context of Seisachtheia, debt relief is considered a key component of what broader societal reform?




⭐ Core Definition: Debt relief

Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.

From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In World War I the United States Treasury made large loans to the Allies that were postponed, reduced and finally paid off in 1953. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1983, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles.

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👉 Debt relief in the context of Seisachtheia

Seisachtheia (Greek: σεισάχθεια, from σείειν seiein, to shake, and ἄχθος achthos, burden, i.e. the relief of burdens) was a set of laws instituted by the Athenian lawmaker Solon (c. 638 BC–558 BC) in order to rectify the widespread serfdom and slavery that had run rampant in Athens by the 6th century BCE, by debt relief.

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In this Dossier

Debt relief in the context of Conditionality

In political economy and international relations, conditionality is the use of conditions attached to the provision of benefits such as a loan, debt relief or bilateral aid. These conditions are typically imposed by international financial institutions or regional organizations and are intended to improve economic conditions within the recipient country.

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Debt relief in the context of Cameroonian people

The demographic profile of Cameroon is complex for a country of its population. Cameroon comprises an estimated 250 distinct ethnic groups, which may be formed into five large regional-cultural divisions:

  • western highlanders (Semi-Bantu or grassfielders), including the Bamileke, Bamum (or Bamoun), and many smaller Tikar groups in the Northwest (est. 38% of total population);
  • coastal tropical forest peoples, including the Bassa, Duala (or Douala), and many smaller groups in the Southwest (12%);
  • southern tropical forest peoples, including the Beti-Pahuin, Bulu (a subgroup of Beti-Pahuin), Fang (subgroup of Beti-Pahuin), Maka, Njem, and Baka pygmies (18%);
  • predominantly Islamic peoples of the northern semi-arid regions (the Sahel) and central highlands, including the Fulani (French: Peul or Peuhl; Fula: Fulɓe) (14%); and
  • the "Kirdi", non-Islamic or recently Islamic peoples of the northern desert and central highlands (18%).

The Cameroon government held two national censuses during the country's first 44 years as an independent country, in 1976 and again in 1987. Results from the second head count were never published. A third census, expected to take years to produce results, began on November 11, 2005, with a three-week interviewing phase. It is one of a series of projects and reforms required by the International Monetary Fund as prerequisites for foreign debt relief. The first results were published in 2010.

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Debt relief in the context of London Agreement on German External Debts

The London Agreement on German External Debts, also known as the London Debt Agreement (German: Londoner Schuldenabkommen), was a debt relief treaty between the Federal Republic of Germany and creditor nations. The Agreement was signed in London on 27 February 1953, and came into force on 16 September 1953.

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Debt relief in the context of Laguna Copperplate Inscription

The Laguna Copperplate Inscription is an official acquittance (debt relief) certificate inscribed onto a copper plate in the Shaka year 822 (Gregorian A.D. 900). It is the earliest-known, extant, calendar-dated document found within the Philippines.

The plate was found in 1987 by a laborer near the mouth of the Lumbang River in Wawa, Lumban, Laguna, in the Philippines. The inscription was mainly written in Old Malay using the Old Javanese script called Kawi script, with several technical Sanskrit words and either Old Javanese or Old Tagalog honorifics. After it was found, the text was first translated in 1991 by Antoon Postma, a Dutch anthropologist and Hanunó'o script researcher.

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