UK to write off poor nations' debt
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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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LONDON, Feb 5 (IPS) - In response to a massive civil society campaign   spearheaded by Nelson Mandela to make poverty history, G7  finance  ministers agreed Saturday to examine debt relief for the  poorest  countries on a ''case-by-case''  basis.
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Russia pledged on Tuesday to write off  an additional $500 million of African debt, just days before a  Group of Eight summit where Germany will push rich nations to  deliver on promises to help Africa.
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Wealthy nations will discuss absolving poor countries of loan payments at Friday's G-7 summit.
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Rich nations failed to agree at meetings this weekend on a plan for canceling the debts the world&#39;s poorest countries owe to the World Bank and International Monetary Fund.
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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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Rich countries are likely to back  Britain's bid to channel more debt relief and resources to  Africa, which is ready to shake off the shackles of poverty,  British finance minister Gordon Brown said.
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The UK and other developed countries are meeting to plan ways to spend aid more effectively in poor countries.
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The British government offered a sweeping plan yesterday for the Group of Seven nations to dramatically increase aid to the developing world and to forgive 100 percent of Africa's $70 billion in debt.
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G-7 approves debt relief, but British 'Marshall Plan' for poor countries faces US skepticism.
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Gordon Brown will this week be urged to intervene on behalf of Argentina at the International Monetary Fund and write off much of the embattled country&#39;s $100 billion-worth of debts.
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Britainâs buoyant borrow-and-spend era may be coming to an end, and there are accounts still to be settled.
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British finance minister Gordon Brown pledged over 2.0 billion pounds (2.9 million euros, 3.7 million dollars) to help eradicate poverty in the developing world and give a brighter future for millions of children.
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RUSSIA finally signed up yesterday to an agreement between 19 nations to write off $33 billion (Â£17.8 billion) of Iraqâs debt. The agreement was confirmed by a US Treasury official at
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US 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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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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Major economic powers agreed on Sunday to write off billions of dollars of debt for Iraq in a deal that marked a significant step in U.S. efforts to help put the Iraqi economy back on its feet.