Paris Club OKs Tsunami Debt Freeze Deal
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The Paris Club of creditor nations  reached an agreement on Wednesday to freeze debt repayments of  countries hit by the Asian tsunami to help them recover.
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The United States on Sunday applauded the decision by the Paris Club on slashing Iraq&#39;s debts and urged other countries to follow suit.
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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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French President Jacques Chirac said the Paris Club of 19 creditor nations should delay debt- repayments by Indonesia and Somalia following the Dec. 26 earthquake and tsunamis that have
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The Paris Club of creditors met on Sunday  to finalize an agreement on writing off debts owed to its 19  member countries by Iraq -- a deal which could pave the way for  a wider international accord.
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PARIS/BERLIN  - The Paris Club of creditor nations  agreed on Sunday to cancel 80 percent of the debt Iraq owes its  members, ending a trans-Atlantic dispute and probably setting  the framework for debt pardons from other creditors.
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International organisation and countries are poring in relief and over $500 million have already been pledged. This includes $250 million for tsunami relief offered by the World Bank on Thursday.
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French President Jacques Chirac told his government to push for the Paris Club of creditor nations to put a moratorium on debt payments owed by countries hit by tsunamis in southeast Asia.
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Russian President Vladimir Putin has confirmed Russia's willingness to start the early repayment of debts within the framework of the Paris Club.
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The Paris Club of creditor nations will agree Wednesday to freeze debt repayments of countries hit by the Asian tsunami, French Finance Minister Herve Gaymard said.
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The Paris Club of rich lending nations is to discuss a proposed debt freeze for tsunami-affected countries.
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PARIS : The Paris Club of creditor nations announced it had agreed to wipe out 80 percent of the money Iraq owes in three phases over three years.
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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.
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The U.S. and top financial institutions indicated that they were closing in on an agreement to forgive the debts of many of the world's poorest countries.
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PARIS -- Rich creditor nations offered yesterday to let tsunami-hit countries halt repayments on billions of dollars of debt, possibly for as long as a year, the chairman of the Paris Club said.
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German Finance Minister Hans Eichel said on Saturday that the Paris Club had reached a framework agreement to forgive 80 percent of Iraqi debt.
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US President George W. Bush has welcomed the decision by the Paris Club of creditor nations to forgive 80 percent of Iraqi debt owed to its members.