Meaning of “debt relief” in the English Dictionary

british dictionary

"debt relief" in British English

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debt reliefnoun [ U ]

uk /ˈdet rɪˌliːf/ us /ˈdet rɪˌliːf/

(Definition of “debt relief” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"debt relief" in Business English

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debt reliefnoun [ U ]

uk us

ECONOMICS, SOCIAL RESPONSIBILITY the situation when a foreign country is allowed to reduce or not pay back the money that it owes to a government or bank:

Last year several countries received billions of dollars in debt relief.
qualify for/be eligible for debt relief In order to qualify for debt relief, countries must fulfil a set of conditions.

(Definition of “debt relief” from the Cambridge Business English Dictionary © Cambridge University Press)