This is what the dictionary has to say:

to grant pardon for or remission of (an offense, debt, etc.); absolve.
to give up all claim on account of; remit (a debt, obligation, etc.); to grant pardon to (a person).
to cease to feel resentment against: to forgive one’s enemies.
to cancel an indebtedness or liability of: to forgive the interest owed on a loan.
to pardon an offense or an offender.

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