France Backs Debt Delay for Quake-Hit Countries
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French President Jacques Chirac said the Paris Club of 19 creditor nations should delay debt- repayments by Indonesia and Somalia following the Dec. 26 earthquake and tsunamis that have
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German Chancellor Gerhard Schroeder said the Paris Club of creditor nations should consider a debt moratorium for Indonesia and Somalia, two of the countries affected by the tsunami
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The G7 group of industrialised states, led by the UK, is set to back a moratorium on debt repayments from countries hit by the Asian tsunami.
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Indonesia Thursday welcomed a German plan to propose a debt moratorium for the tsunami-hit country when the Paris Club of sovereign lenders next meets on Jan. 20 and hoped it would free up more funds for reconstruction.
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The European Commission pledged an  additional 350 million euros ($462 million) over three years on  Thursday to relief efforts for the devastating Dec. 26 Indian  Ocean earthquake and tsunami.
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One-upping the United States, France nearly doubled its aid pledge for tsunami victims to &#36;57 million Thursday and briefly claimed the role as leading donor nation, following barbs from Washington about French generosity.
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French President Jacques Chirac on Monday urged his government to "mobilize all means" to help millions of stricken people in tsunami-hit Asian countries.
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The world's richest nations are likely to agree to freeze debt repayments for nations devastated by the Indian Ocean tsunami, according to Britain's treasury chief.
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British finance minister Gordon Brown  said on Thursday he has full support from other major  industrialized nations to freeze debt repayments from countries  afflicted by the Asian tsunami disaster immediately.
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The Paris Club of creditor nations reached an agreement on Wednesday to freeze debt repayments of countries hit by the Asian tsunami to help them recover.
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France announced plans Tuesday to spend over 1 billion euros (&#36;1.2 billion) on tax breaks and other incentives to encourage companies to keep jobs in the country rather than going abroad.
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French President Nicolas Sarkozy said in an interview published Saturday he will support the candidacy of former socialist minister Dominique Strauss-Kahn to head the International Monetary Fund.
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The Paris Club of creditor nations will agree Wednesday to freeze debt repayments of countries hit by the Asian tsunami, French Finance Minister Herve Gaymard said.
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The International Monetary Fund on Friday granted an Argentine government request to defer $1.1 billion in debt repayments that Buenos Aires was scheduled to make between now and January.
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The International Monetary Fund on  Wednesday approved $436 million in emergency lending to Iraq  and said it hoped its backing would generate additional  international economic support, including debt relief.
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French President Jacques Chirac on Monday paid solemn tribute to the more than 144,000 people killed in last week's Asian tsunami disaster, charging his government with helping to expedite aid to the region.
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LONDON, Jan 6 (IPS) - World leaders need to cancel debts of poor tsunami-   hit countries rather than just freeze them for now, leading  campaigners  say.