G7 fails to reach debt deal
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Hopes of a deal to write off completely the debts of some of the world&#39;s poorest countries were dashed after the Group of Seven rich nations club failed to reach agreement.
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Rich nations failed to agree at meetings this weekend on a plan for canceling the debts the world&#39;s poorest countries owe to the World Bank and International Monetary Fund.
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The G7 group of industrialised nations, led by the UK, agrees to freeze debt repayments by tsunami-stricken countries.
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The G-7 meeting Saturday in Tokyo produced little immediate action, but finance chiefs pledged to foster world economic growth and support a joint effort to stop climate change
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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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European Union finance ministers failed early today to agree on tax breaks to ease the impact of high oil prices, despite sharp prodding from France and dire warnings that they were threatening economic growth.
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Trade officials failed to resolve their dispute over government subsidies to aircraft manufacturers, especially Airbus and Boeing.
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Debt campaigners attending this weekâs annual meeting of the World Bank and the International Monetary Fund (IMF) have expressed disappointment and outrage over the failure of the
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The world&#39;s leading finance officials and ministers appear to be failing to reach agreement on debt relief for the poorest nations.
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Talks in Germany to secure a new global trade deal have collapsed, says a European Union official.
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THE HAGUE -- Russia and the European Union failed yesterday to complete negotiations on a &quot;strategic partnership&quot; because of disagreements over security and other issues at a summit overshadowed by the Ukraine political crisis. The two sides said they were confident a final pact will be reached next May, however.
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The European Union and the four-nation  South American Mercosur customs bloc failed to reach a deal to  create the world's biggest free-trade area, negotiators said  late on Wednesday.
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A communique from the G20 group of rich and developing countries made no explicit reference to currency swings on Sunday, despite mounting concern in Europe and Japan over a slide in the U.S. dollar to multi-year lows.
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By Sabyasachi Mitra and Natsuko Waki LONDON  - Finance chiefs from the biggestdeveloping economies on Saturday pushed the Group of Seven (G7)industrialized nations for a seat at the high table of globaleconomic policy making.
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Global markets were down Thursday despite a plan by five central banks to inject capital into the banking system to ease credit fears.
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European governments failed to agree Friday on how to salvage their troubled satellite navigation system, Galileo.
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The Argentine government said late Wednesday it has postponed a global plan to restructure the bulk of US$103 billion (euro78.35 billion) in default debt until mid-January, moving back a debt swap that was expected next week.