G7 Mulls IMF Gold Sales to Help Poor
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The International Monetary Fund will look into using its huge gold reserves to help finance debt relief for the world's poorest countries on the urging of the Group of Seven rich nations, ministers said on Saturday.
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Exchange-traded funds offer flexibility for investing in gold.
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World leaders are hoping to put a spotlight on the growing gap between rich and poor and the failure to find $50 billion a year to help more than one billion people escape extreme poverty and start sharing ...
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The government wants the International Monetary Fund (IMF) to relax its strict fiscal policies to give countries like the Philippines greater access to loans and investments.
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The G24 group of developing nations demands a bigger say at the International Monetary Fund and World Bank.
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Fighting Africa's poverty and the spread of Aids top the agenda at the Davos World Economic Forum.
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Worried soaring oil prices could  hurt the best global prospects in years, finance chiefs from  wealthy nations met on Friday to try to work out what lay  behind the surge and how to buffer the economic expansion.
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Finance chiefs from seven of the world's most powerful countries will convene here Saturday to assess prospects for a global economy threatened by simmering inflation, higher interest rates and foreign exchange uncertainty.
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The Group of Seven appeared to have  achieved a compromise on aid to the Third World on Saturday,  proposing "up to" 100 percent multilateral debt relief to poor  nations, G7 sources told Reuters.
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Brazilian President Luiz InÃ¡cio Lula da Silva announced that, during his visit to New York in September, the governments of Brazil and Chile will meet with other presidents to discuss the creation of an international fund to help the poorest countries
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With the global economy under threat from rising oil prices and sharp regional growth differences, the International Monetary Fund appealed to governments to act boldly to preserve a worldwide recovery.
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DAVOS, Switzerland  - Ministers from G20  developing countries said Saturday they had held positive talks  in preparation for a fight with richer countries over changing  trade rules in favor of the poor.
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The board of the International Monetary Fund (IMF) meets today to decide whether Kenya should get Sh18 billion funding under the Poverty Reduction Growth Facility (PRGF).
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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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HEILIGENDAMM, Germany  - World powers on Friday pledged $60 billion to fight AIDS and other killer diseases ravaging Africa but development campaigners complained the Group of Eight had pledged little fresh cash for the poor.
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Business & money: Finance chiefs from the G7 warn the global economy will slow down as a result of US mortgage crisis
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The world economy remains vulnerable to downside risks stemming from tighter credit, a deterioration of the US housing market, higher oil prices and rising inflation, according to G7 finance ministers gathering in Tokyo on Saturday.