In IMF talks, US shifts toward debt-forgiveness pact
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WASHINGTON With public pledges and in private conversations, Britain managed over the weekend to move the United States closer to full forgiveness of the debts of the poorest countries during the annual meetings of the World Bank and the International
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Saving world trade talks and bolstering   global financial systems against fiscal crises were the focus   of finance ministers of the United States, China and other   Pacific Rim economies meeting in Vietnam on Thursday.
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PARIS -- Major economic powers agreed yesterday to write off billions of dollars in Iraqi debt, a deal that marked a significant step in US efforts to help put that nation's economy back on its feet.
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The Bush administration is exploring proposals to significantly expand debt relief to some of the world&#39;s poorest countries, including forgiving all existing debt, Treasury Secretary John Snow said Thursday.
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WASHINGTON - The United States signed an agreement with Iraq on Friday to forgive 100 percent of the $4.1 billion debt Iraq owes it, and urged other nations to follow suit to help the war-torn nation.
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The IMF says it will negotiate with Argentina only after a $100bn debt swap, which has already been delayed until January.
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The United States, Germany and other G7  nations agreed on Saturday to write off up to 80 percent of  Iraq's $120 billion foreign debt in a move that could pave the  way for a wider international accord, officials said.
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The Bush Administration said on  Wednesday tsunami-hit countries that want long-term debt relief  would have to choose between that and other U.S. aid.
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Financial leaders from the world's richest nations stood ready to discuss a global policy response to the credit crisis, which has unleashed economic downdrafts and market turbulence that knows no borders.
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The United States and China announced  on Wednesday that they were forming a new economic discussion  pact to take on long-term challenges and to expand relations  between the two countries.
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The International Monetary Fund took a first step yesterday toward retooling itself to reflect major changes in the global economy, agreeing to increase the power that several fast-growing countries have over its policies and promising to boost their clout more in the next two years.
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Iraq hopes to reach a debt  forgiveness deal with leading creditor nations by the end of  the year, and views as a "starting point" a proposal by France  to initially relieve 50 percent of its debt, Iraq's Finance  Minister said on Tuesday.
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Wealthy nations will discuss absolving poor countries of loan payments at Friday's G-7 summit.
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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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Global finance chiefs on Saturday made progress on reforms that would give emerging economies a greater say in the International Monetary Fund and expressed confidence they could seal a deal next year.
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The International Monetary Fund (IMF), one of the most powerful architects of the world economy and controlled by the planet&#39;s wealthiest nations, has marked its return to US-occupied Iraq with a new loan of US$436 million.
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BERLIN -- Germany and the United States have agreed on a proposal to write off as much as 80 percent of Iraq's debt, Germany's finance minister said yesterday, capping a months-long US push for debt forgiveness.