World Finance Leaders Favor Debt Relief
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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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BRIGHTON, England  - 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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Pressure mounted on Sunday on a clutch of mainly developing countries to sign off on debt relief for Liberia held up over how to finance the International Monetary Fund's portion of the deal.
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World leaders are meeting in Indonesia to coordinate relief after the Indian Ocean tsunami. Should debt be cancelled? How long will it take the affected countries to rebuild?
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UK chancellor Gordon Brown and the French finance minister propose G7 nations should give 100% debt relief to developing countries by the end of 2005.
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German Chancellor Gerhard Schroeder said the Paris Club of creditor nations should consider a debt moratorium for Indonesia and Somalia, two of the countries affected by the tsunami
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Some world leaders say they will not be pressured into following economic policies prescribed to them.
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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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International momentum was building in support of debt relief for tsunami-hit nations on Wednesday after Japan backed the idea despite Australian concerns a debt freeze might not benefit those most in need.
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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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Indonesia has welcomed a German plan to propose a debt moratorium for the tsunami-hit country when the Paris Club of sovereign lenders next meets on January 20 and it hopes it will free up more funds for ...
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The world&#39;s major economic powers were far apart Saturday on agreeing how to provide debt relief for Iraq and the poorest nations, as finance officials began broader discussions about the global economy.
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World leaders gathered here for an emergency summit with the United Nations saying aid pledges since the Asian tsunami disaster were near four billion dollars as the International Monetary Fund offered one billion dollars in aid.
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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, Jan 6 (IPS) - World leaders need to cancel debts of poor tsunami-   hit countries rather than just freeze them for now, leading  campaigners  say.
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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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Global finance chiefs meet in Washington amid concerns about the world's economic outlook.