G-7 Countries Willing to Offer Debt Relief
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Finance ministers from the Group of Seven industrial nations said Saturday they were willing to provide up to 100 percent debt relief to the world's poorest nations, but insisted that developing countries ensure the money would be spent wisely.
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The United States, Germany and other G7 nations have agreed to write-off up to 80% of Iraq&#39;s so-called Paris Club debt. The agreement was made on the sidelines of the G20 meeting of rich and developing nations
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US Treasury Secretary John Snow repeated on Sunday the Bush administration would support complete debt relief for the poorest countries and said details of how to implement a plan could be worked out.
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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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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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BERLIN: The United States, Germany and other G7 nations agreed yesterday to write off up to 80 per cent or $33 billion of Iraq&#39;s Paris Club debt, which could pave the way for a wider international accord, officials said.
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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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Britain plans to spend an extra Â£100 million (NZ$273.74 million) a year on debt relief for some of the world&#39;s poorest countries, the Guardian newspaper reported today.
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Campaign groups welcomed a commitment by Britain to write off debts owed by the world's poorest nations to the World Bank ( news - web sites ), a move they said should pressure other Group of Seven rich ...
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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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LONDON, Feb 2 (IPS) - Bold new proposals for debt relief for the poorest  countries will be put to the test at the G7 finance ministers  summit in London this weekend.
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Bulgaria is reluctant to write off a US$1.7 billion (euro1.3 billion) debt it is owed by Iraq, despite mounting international pressure on Iraq&#39;s creditors to agree on substantial debt reduction, officials said Monday.
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Rich nations pledged an agreement soon on forgiving the debt burden weighing on poor nations in Africa, Latin America and Asia but remained divided on reducing billions of dollars of Iraqi debt.
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WASHINGTON - The world'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.    Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan led the U.S...
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The world's richest nations are likely to agree to freeze debt repayments for countries devastated by the Indian Ocean tsunami, and some countries may have all or part of their debt written off, Britain's ...
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U.S. Treasury Secretary John Snow repeated on Sunday the Bush administration would support complete debt relief for the poorest countries and said details of how to implement a plan could be worked out.
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TRIPOLI, Libya -- Several eastern European countries would forgive Libyan debt dating back to the Cold War under a proposal to compensate families whose children were allegedly infected with the AIDS virus by five Bulgarian nurses and a Palestinian doctor, a victims' advocate said Saturday.