G-7 Nations Willing to Offer Debt Relief
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The world's seven wealthiest nations said Saturday they were willing to take on up to 100 percent of the debt owed by some of the poorest countries. But they failed to agree on a British plan to boost international aid by &#36;50 billion a year.
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The Group of Seven wealthy nations  pledged to increase Third World debt relief on Saturday but a  deal struck after major disagreements fell short of proposals  floated by British finance minister Gordon Brown.
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Hopes of a deal to write off completely the debts of some of the world&#39;s poorest countries were dashed after the Group of Seven rich nations club failed to reach agreement.
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G-7 approves debt relief, but British 'Marshall Plan' for poor countries faces US skepticism.
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U.S. Treasury Secretary John Snow  repeated on Sunday the Bush administration would support  complete debt relief for the poorest countries and said details  of how to implement a plan could be worked out.
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British finance minister Gordon Brown will say on Thursday he has full support from all the G7 industrialized nations to immediately freeze debt repayments from countries afflicted by the Asian tsunami disaster.
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The United States, Germany and other G7 nations agreed on Saturday to write off up to 80 percent of Iraq&#39;s $120 billion foreign debt in a move that could
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PARIS, Jan 17 (IPS) - The richer nations have made much of the freeze  they have offered on debt repayments from tsunami-hit countries,  but many of the affected countries do not seem to want this  concession.
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Britain will provide more debt relief for the world&#39;s poorest countries and challenge other rich countries to do the same, Prime Minister Tony Blair&#39;s government said Sunday.
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The Group of Seven wealthy nations on  Saturday pledged to help rid the world's poorest countries of  their crippling debt, launching a program that fell short of  the immediate action demanded by Africa.
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UNITED STATES WASHINGTON -- The United States and its major economic allies struggled yesterday to resolve deep differences over how to relieve the heavy debt burden for Iraq and the world's poorest countries. Debt relief and broader topics of international finance topped the agenda for finance officials attending committee meetings of the International Monetary Fund and the World Bank. Treasury ...
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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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Rich nations pledged an agreement soon on forgiving the debt burden weighing on poor nations in Africa, Latin America and Asia but remained divided on reducing billions of dollars of Iraqi debt.
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More than a quarter of Iraq&#39;s foreign debt burden could be forgiven after a framework agreement was reached by two of the country&#39;s main creditors.
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BERLIN: The United States, Germany and other G7 nations agreed yesterday to write off up to 80 per cent or $33 billion of Iraq&#39;s Paris Club debt, which could pave the way for a wider international accord, officials said.
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More than a quarter of Iraq's foreign debt burden could be forgiven under a US-German proposal.
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A day before Thursday's Jakarta meeting of leaders on tsunami aid, debate is flying over whether offering affected countries debt relief is effective.