Britain Offering to Pay Off 10% of Third World Debt
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Britain is planning a new effort to help poor countries reduce their huge debts by offering to pay off 10 percent of the total owed to international agencies and challenging
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Description: The world&#39;s economic leaders indicate support for the idea of forgiving the debt of the world&#39;s poorest countries.
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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.
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BRITAIN today said it would unilaterally write off its share of debts owed to the World Bank by the world&#39;s poorest countries.
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Chancellor of the Exchequer Gordon Brown unveiled a proposal to its partners in the Group of Eight most industrialised nations for an "immediate moratorium" on debt repayments from countries hit by the tsunami disaster in the Indian Ocean.
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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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The Bank of England will offer additional reserves to lenders Tuesday as part of a global attempt to tackle the deepening credit crisis.
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Chancellor Gordon Brown is to announce the UK will write off its share of debts owed by the world's poorest countries to the World Bank.
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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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Business & money: The way planes take-off, fly and land in Britain will be overhauled in bid to cut aviation emissions by 10%
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Chancellor Gordon Brown outlines his plans to increase aid to developing countries and eliminate debt owed by poorer nations
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Business & money: Qatari-backed investment fund planning Â£12bn cash bid, with two-thirds of deal financed by debt.
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The Government is poised to divert an extra Â£100 pounds a year of financial aid relief to help some of the world&#39;s most impoverished countries deal with interest payments and perennial debt, according to press reports.
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Britain is prepared to write off a portion of debts owed by poor nations, and will challenge other rich countries to do the same, officials said Saturday.
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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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Britain will provide more debt relief for the world's poorest countries and challenge other rich countries to do the same, Prime Minister Tony Blair's government said Sunday.
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U.S., British officials voice confidence that accord will be struck next year to expand debt relief for several dozen nations in sub-Saharan Africa, Latin America and Asia.