G-7 Suspends Debt Of Stricken Nations
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The Group of Seven major industrial nations agreed yesterday to allow tsunami-stricken countries to defer debt payments, a largely symbolic gesture but one that could boost broader debt-relief initiatives for poor nations later this year.
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The world's seven leading industrial nations called on Friday for freezing debt payments owed by countries devastated by the Indian Ocean tsunami.
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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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Finance ministers from the G7 end a two-day meeting in London by discussing debt relief and the weak dollar.
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The Group of Seven (G7) industrialised nations urges China to be more flexible on its currency.
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The chancellor presses the G8 to freeze all debts owed by countries hit by the Asian tsunami disaster, the BBC learns.
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George Bush and Gordon Brown are heading for a dramatic showdown at the G7 summit in Washington this week over plans to write off developing countries&#39; debt.
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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 Paris Club of creditor nations  reached an agreement Wednesday to freeze debt repayments of  countries hit by the Asian tsunami, the Club's president said.
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The world's richest nations are likely to agree to freeze debt repayments for countries devastated by the Indian Ocean tsunami, and some countries may have all or part of their debt written off, Britain's ...
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Canada on Thursday put in place a unilateral debt moratorium for nations hit by the Asian tsunami catastrophe with "immediate effect," said Foreign Minister Pierre Pettigrew.
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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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LONDON, Feb 2 (IPS) - Bold new proposals for debt relief for the poorest  countries will be put to the test at the G7 finance ministers  summit in London this weekend.
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The Paris Club of creditor nations reached an agreement Wednesday to freeze debt repayments of countries hit by the Asian tsunami, the Club's president said.
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The G-7 meeting Saturday in Tokyo produced little immediate action, but finance chiefs pledged to foster world economic growth and support a joint effort to stop climate change
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US President George W. Bush's administration weathered a pre-election mauling as it announced emergency measures to skirt a 7.38-trillion-dollar debt limit.
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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.