Nigeria to end bulk of $500m debt
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Nigeria agrees a deal to clear most of its $500m debt to the London Club for a "clean start".
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Gordon Brown says the UK will write off its share of debts owed by the world's poorest countries to the World Bank.
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Major economic powers agreed Sunday to write off more than $31 billion in debt for Iraq in a deal that boosted U.S. efforts to help put the Iraqi economy back on its feet.
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Chancellor Gordon Brown is to announce the UK will write off its share of debts owed by the world's poorest countries to the World Bank.
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Brazilian media giant Globo has reached a tentative agreement with creditors on terms of a deal to restructure US$1.3 billion of debt it racked up during the 1990s.
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Britain has decided to cancel Mozambique's total debt to it of 150 million dollars (114 million euros) to help the southern African country combat poverty, visiting Chancellor of the Exchequer Gordon Brown revealed.
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The Paris Club of international creditors has agreed to cancel 80 percent of the debt Iraq owes member countries. Officials say the deal, brokered in Berlin, is worth about $33 billion.
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Russia will slash at least $9.5 billion of Iraq&#39;s debt to Moscow, Interfax news agency reported Monday. Iraq&#39;s debt to Russia will be reduced to $700 million to $1 billion
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The Paris Club of creditor nations agreed on Sunday to cancel 80 percent of the debt Iraq owes its members, ending a trans-Atlantic dispute and
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At least 75 million US dollars has been pledged to support the health sector in Nigeria, Africa&#39;s most populous country, in an effort to hasten the achievement of the Millennium Development Goals (MDGs).
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Treasury Secretary Henry Paulson said on Wednesday he expects the federal government to reach its $8.965 trillion statutory debt limit on October 1.
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Oil futures were little changed after touching a record $50.47 a barrel on concern Nigerian rebels will follow through on threats to cut shipments from the fifth-largest supplier to the US.
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It should not be much more than 50 percent, the source said on condition of anonymity, adding that an agreement on reducing the war-torn country's debts could be reached before the end of this year.
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The International Monetary Fund said  on Wednesday Iraq's official bilateral creditors had agreed to  defer debt the country owes them until the end of 2005.
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Nineteen countries, including Australia, have agreed to cancel 80 per cent of the debt Iraq owes them. The deal secured for the Paris Club of creditor nations ends a trans-Atlantic dispute and probably sets
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The bulk of Sierra Leone's debt is cancelled after it implements key economic reforms, described by the World Bank as a "milestone".
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The African Union can quickly mobilise up to 5,000 troops to help end the looting and killing in western Sudan, but it needs hundreds of millions of dollars to deploy the force, Nigerian President Olusegun Obasanjo has said.