The demand for 100% cancellation of Third World debt is being advanced by progressive civil society groups like Jubilee South and the Zimbabwe Coalition on Debt and Development (Zimcodd). Zimbabwe is officially considered only “moderately” indebted by the World Bank. Yet the burden of repayment is so brutal that government finally said no to foreign debt repayment around a year ago, and drove the interest rate down to at least 45% below inflation earlier this year so as to lower domestic debt repayment.