Africa fails in IMF vote demand
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African leaders have been unsuccessful in efforts to win more voting power for the continent at the IMF and World Bank.
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With Africa lagging behind in  global development goals and rich countries cutting aid,  leaders of multilateral financial institutions decided on  Friday it was time to mobilize resources to reduce extreme  poverty on the continent.
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SUDANâS president and four African counterparts yesterday rejected any foreign intervention in Darfur, describing the crisis as an &quot;absolute African issue&quot;.
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ARUSHA, Tanzania  - African leaders lobbied the  Global Fund for Aids, Tuberculosis and Malaria for more money  on Wednesday to solve a cash crunch but were told a new round  of funding was likely to be delayed by several months.
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Many African countries have haphazardly liberalized their economies and failed to earn the expected benefits of more open trade, a U.N. report said Wednesday.
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Africa's debt must be completely written  off if the continent is to have a chance of meeting  international goals on reducing poverty, a United Nations body  argued on Thursday.
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British Prime Minister Tony Blair urged rich nations on Thursday to keep their promises of financial aid to Africa, saying failure to do so could threaten the continent's progress towards prosperity and democracy.
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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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Canada and most other members of the G8 are failing to meet their fair share of the cost of financing the Global Fund to Fight AIDS, Tuberculosis and Malaria, the Global AIDS Alliance said Thursday.
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The International Monetary Fund appears to be unable to agree on a debt relief plan for the world's poorest nations.
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Watchdog development groups accused the World Bank and the International Monetary Fund (IMF) Wednesday of doing too little to help the global battle against HIV/AIDS, but the two institutions responded that they are at the forefront of the struggle.
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The International Monetary Fund says emerging economies will not be immune from a slowdown among wealthier nations.
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THE worldâs leading finance officials and ministers yesterday failed to reach agreement on debt relief for the poorest nations. Wrapping up a weekend of IMF and World Bank talks in Washington, no agreement appeared to have been secured.
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Arab nations on Friday failed to get a vote on a resolution labeling Israel's nuclear capabilities a threat at the International Atomic Energy Agency's annual meeting.
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Two proposed resolutions condemning widespread rights abuses in Sudan and Zimbabwe failed to pass a UN committee, mired in debate between African and western nations.
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The World Bank and IMF are poorly suited  to lead the flow of aid to Africa, which would be more  effective if it was distributed in line with a nation's needs,  not competing donor interests, a U.N. agency said.
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Africa's debt must be completely written off if the continent is to have a chance of meeting international goals on reducing poverty, a United Nations body argued on Thursday.