Feb 27, 2007

Bakiyev's "Victory for Democracy"

Kyrgyz President Kurmanbek Bakiyev rebuffed the World Bank's offer to write-off nearly $1 billion of the country's external debt through the Heavily Indebted Poor Countries Initiative (HIPC) . The deal would have put an end to the pervasive system of state-sponsored corruption in Kyrgyzstan. Bakiyev is spinning it as a victory for democracy.

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