Britain Proposes Debt Relief to Nations
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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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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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The world's seven wealthiest nations said Saturday they were willing to take on up to 100 percent of the debt owed by some of the poorest countries. But they failed to agree on a British plan to boost international aid by &#36;50 billion a year.
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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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Britain will seek Washington's support to help it achieve goals on global poverty reduction, debt relief and fair trade during London's G8 presidency next year, finance minister Gordon Brown said Wednesday.
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Global lenders need to offer more grants and debt relief to poor countries and tailor lending toward the private sector, Treasury Secretary John Snow said today.
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The Group of Seven wealthy nations on  Saturday pledged to help rid the world's poorest countries of  their crippling debt, launching a program that fell short of  the immediate action demanded by Africa.
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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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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.
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Proposals to help poor countries work their own way out of debt are being published by a Tory policy group.
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BRITAIN is to write off its share of debts owed by the worldâs poorest countries to the World Bank, Chancellor Gordon Brown will announce tomorrow.
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The Group of Seven wealthy nations  pledged to increase Third World debt relief on Saturday but a  deal struck after major disagreements fell short of proposals  floated by British finance minister Gordon Brown.
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Britain announced Sunday 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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The G7 nations, led by the UK, agree to freeze debt repayments from countries hit by the Asian tsunami.
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A US Treasury Department spokesman on Monday gave a positive, though muted, reception to a British proposal to ease the debt of heavily indebted poor countries, which was unveiled over the weekend.
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The British government is to support a plan to turn the Bank of England's loans to troubled bank Northern Rock into bonds for sale, the BBC reported Saturday.
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A joint plan by five central banks aimed at easing the credit crunch in financial markets has been welcomed by UK Prime Minister Gordon Brown.