IMF Group Fails to Reach Concensus on Debt Relief Program
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The 24 member policy making group of the International Monetary Fund met Saturday in Washington and failed to reach consensus on implementing a more generous debt relief program for the world&#39;s poorest countries.
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Hopes of a deal to write off completely the debts of some of the world&#39;s poorest countries were dashed after the Group of Seven rich nations club failed to reach agreement.
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Developing countries are agitating for greater decision-making power in the International Monetary Fund and the World Bank, but the head of the IMF acknowledged that political consensus on the question was lacking.
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Canada announced a debt payment moratorium on Thursday for countries struck by the Indian Ocean tsunami, and said it would speak with other creditor nations about offering relief.
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Senior finance officials have hailed a robust global economic recovery, albeit one threatened by surging oil prices, but made little headway pushing China toward currency reform and took no firm steps to ease the debt of 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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Talks on rebalancing voting power in the International Monetary Fund start on Monday with some major emerging economies already complaining that an opening proposal fails to clearly spell out changes needed to give them more say in the institution.
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The International Monetary Fund said Friday China remains reluctant to float its currency. In its discussions with Chinese authorities about the country&#39;s economy, the IMF said
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Turmoil in global credit and money markets will likely continue as investors worry about the size of financial losses and where they might appear, the International Monetary Fund warned on Monday.
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A day before Thursday's Jakarta meeting of leaders on tsunami aid, debate is flying over whether offering affected countries debt relief is effective.
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The International Monetary Fund lowers its forecasts for global economic growth but does not predict a recession.
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Argentina&#39;s postponement of its International Monetary Fund loan program was &quot;very unadvisable&quot; as the country tries to regain access to international credit markets, a global banking group said on Tuesday.
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Talks on rebalancing voting power in  the International Monetary Fund start on Monday with some major  emerging economies already complaining that an opening proposal  fails to clearly spell out changes needed to give them more say  in the institution.
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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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Indonesia calls on the International Monetary Fund to help reschedule its debts, as figures reveal a slowdown in economic growth.
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Investor's Business Daily - There seems to be a significant slowing in the pace of global economic growth this year, the International Monetary Fund said. The IMF cautioned that restoring world financial markets will be a complex, drawn-out process. The Fed's 75- basis-point 18ate cut on Tue. was "appropriate and helpful," said IMF spokesman Masood Ahmed, who also said the U.S. should apply "targeted and timely" fiscal stimulus.
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WASHINGTON Oct. 2, 2004 - The United States and its major economic allies struggled Saturday to resolve deep differences over how best to relieve the heavy debt burden for Iraq and the world&#39;s poorest countries.