Indonesia Welcomes Proposed Debt Relief
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Indonesia Thursday welcomed a German plan to propose a debt moratorium for the tsunami-hit country when the Paris Club of sovereign lenders next meets on Jan. 20 and hoped it would free up more funds for reconstruction.
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Indonesia's president visits the island of Sumatra, spared major damage when two big earthquakes hit last week.
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Iraq&#39;s interim finance minister Adel Abdel Mahdi has hailed an agreement by a group of creditor nations including Australia to write off a large chunk of debt inherited from the former regime of Saddam Hussein.
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Chancellor of the Exchequer Gordon Brown said that finance ministers from the Group of Seven rich nations had for the first time expressed firm willingness to provide as much as 100 percent debt relief for the world's poorest countries.
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WASHINGTON, Oct 3 (IPS) - Anti-debt campaigners are hailing as groundbreaking  Monday's decision by Norway to cancel 80 million dollars in  debt owed by five poor nations after it determined that the loans  were not granted in a good faith effort to promote development.
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JAKARTA, Indonesia: President-elect Susilo Bambang Yudhoyono on Friday promised stronger economic growth and more legal certainty, and predicted a &quot;beautiful period&#39;&#39; for Indonesia if the government and business leaders could work together.
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The world's seven leading industrialized countries have agreed to support the suspension of debt payments by countries affected by the tsunami disaster, the British treasury announced.
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The Philippines is able to service its debt, the government said Tuesday, as officials scrambled to reassure jittery investors a day after the president rattled the markets by saying the country was in the throes of a fiscal crisis.
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German Chancellor Gerhard Schroeder called on creditor nations Wednesday to suspend debt repayments from Indonesia and Somalia to help in their recovery from the quake-tsunami disaster.
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The International Monetary Fund (IMF) has joined the increasing number of creditors willing to consider granting Indonesia debt relief to help cushion the massive financial impact of the Aceh and North Sumatra calamity.
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JAKARTA (Dow Jones): The Indonesian government plans to auction around Rp3 trillion ($329 million) worth of bonds Oct. 26, Anggito Abimanyu, the head of fiscal analysis in the finance ministry, said Monday.
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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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The deal is part of a new international agreement to forgive 80 per cent of Iraq&#39;s international debt, amounting to a total of about $150 billion.
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The representatives of the member countries of the Paris Club met from November 17 to November 21 and agreed with the representatives of the Republic of Iraq on a comprehensive debt treatment of the public external debt owed to them providing a total
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Indonesian President Susilo Bambang Yudhoyono received a welcome boost when his deputy was elected as leader of the country's most powerful political party.
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UK Prime Minister Tony Blair&#39;s government may back French and German proposals to halt debt payments from Somalia and Indonesia, two of the countries hit hardest by the weekend&#39;s earthquake
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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.