India to write off poor nations' debt

India on Thursday decided to write-off dues worth Rs 95.44 crore (Rs 954 million) of seven heavily indebted poor countries.

The countries include Mozambique, Tanzania, Zambia, Guyana, Nicaragua, Ghana and Uganda.

"The decision follows implementation of India Development Initiative approach announced by the Finance Minister Jaswant Singh in his Budget," an official release said in New Delhi.