Algeria announced that it has written off $500 million in debts for Yemen and Iraq since 2010.

Algerian news agency (WAG) quoted Amar Belan, the spokesman of the Algerian Foreign Ministry as saying that the initiative "is part of Algeria's support to Arab peoples who live in a situation requiring urgent solidarity actions, especially for reconstruction and for economic and social development."

Algeria has announced last week canceled debts of $902 million for 14 member countries of the African Union.

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