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English definition of “debt relief”

debt relief

noun [U]    
the situation in which a bank or a government tells a person, a company, or a government that they do not have to pay back the money they owe: There are plans to provide full debt relief for some African countries.Gifts in the form of moneyPresents and giftsCharity organizationsGenerous and charitable
(Definition of debt relief noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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