Every time that they forgive a debt, they lengthen the odds on taxpayers being one day repaid in full.

Do nt take on too much debt, and do nt expect the government to forgive the debt that you take on.

The king felt sorry for him and forgave the debt.

A soft version of default would involve both banks and governments in forgiving some debt, and extending the maturities on the remaining bonds.

Neither of them had the money to pay him back, so he forgave the debts of both.