Translation and analysis of words by artificial intelligence
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What (who) is forgiveness of a debt - definition
![The sick men's ward at [[Marshalsea]] [[debtors' prison]]](https://commons.wikimedia.org/wiki/Special:FilePath/Sick men's ward in the Marshalsea prison.JPG?width=200 "The sick men's ward at [[Marshalsea]] [[debtors' prison]]")
![NYC]], April 20, 2012](https://commons.wikimedia.org/wiki/Special:FilePath/Usa national debt 20 April 2012.JPG?width=200 "NYC]], April 20, 2012")
Wikipedia
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.
