Britain Proposes Debt Relief to Nations
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Britain will provide more debt relief for the world&#39;s poorest countries and challenge other rich countries to do the same, Prime Minister Tony Blair&#39;s government said Sunday.
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LONDON -- 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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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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Finance ministers from the Group of Seven industrial nations said Saturday they were willing to provide up to 100 percent debt relief to the world's poorest nations, but insisted that developing countries ensure the money would be spent wisely.
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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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A plan by five central banks aimed at easing the credit crunch is welcomed by UK Prime Minister Gordon Brown.
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Prime Minister Tony Blair was urged today to use Britainâs upcoming presidency of the G8 to broker a global agreement to cancel poor countriesâ debt and double spending on aid.
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Britain, which holds the presidency of the G8 bloc of leading industrialized nations, wants to reach agreement by mid-January on reducing the debt of the countries hit by the tsunami in Asia, the Financial ...
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The Commonwealth group of countries   began a three-day finance ministers meeting in Sri Lanka on   Tuesday with a call for rich nations to keep their promises   over debt relief and aid to the poor.
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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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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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Britain has announced it is ready to write off a substantial portion of debt owed by the world&#39;s poorest countries. Britain&#39;s Finance Minister, the Chancellor of the Exchequer, Gordon Brown, has told a meeting
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British Treasury chief Gordon Brown on Monday called on wealthy nations and international institutions to write off Africa's debt, saying debts incurred by past generations are keeping the continent poor.
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UK Chancellor of the Exchequer Gordon Brown pledged to spend 100 million pounds ($180 million) a year relieving the debts of 30 of the world&#39;s poorest nations, challenging the US to chip in as well.
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Britain will provide more debt relief for the world&#39;s poorest countries and challenge other rich governments to do the same, Prime Minister Tony Blair&#39;s government said Sunday.
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LONDON: The world's rich industrialised nations stepped up their efforts yesterday to help Asian countries devastated by the tsunami by offering to freeze billions of dollars in debt repayments.
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British finance minister Gordon Brown will say on Thursday he has full support from all the G7 industrialized nations to immediately freeze debt repayments from countries afflicted by the Asian tsunami disaster.