U.S. Wants to Cancel Poorest Nations' Debt
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The move by Bush administration officials could boost America's image abroad, but institutions like the World Bank fear it could leave them strapped for cash.
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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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One of the biggest reasons that very poor countries can&#39;t provide decent education and health care is that they are stuck in a cycle of debt owed to the International Monetary Fund, the World Bank and regional development banks, much of it dating to the
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THE administration of US President George W Bush will agree to write off the $US4.1 billion ($5.4 billion) worth of debt Iraq racked up during the regime of Saddam Hussein.
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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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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 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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LONDON, Feb 5 (IPS) - In response to a massive civil society campaign   spearheaded by Nelson Mandela to make poverty history, G7  finance  ministers agreed Saturday to examine debt relief for the  poorest  countries on a ''case-by-case''  basis.
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The US has written off on Friday all of its $4.1bn in Iraqi debt and called on other nations to follow suit. At a ceremony in Washington to mark the move, US Secretary of State Colin Powell hailed the move
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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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The US cancels all the debt owed to it by Iraq and calls on other countries to do the same.
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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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Argentina submitted on Monday to the US Securities and Exchange Commission its offer to restructure $100 billion in defaulted debt, clearing the way for a world-record debt swap, Economy Ministry spokesman
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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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The United States and its major economic allies struggled yesterday to resolve deep differences over how best to relieve the heavy debt burden for Iraq and the world&#39;s poorest countries.
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The United States intends to  tell Sudan and its southern rebels next week that offers of  future development aid may be withdrawn if a pact is not signed  soon to end Africa's longest-running civil war.
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The Government is poised to divert an extra Â£100 pounds a year of financial aid relief to help some of the world&#39;s most impoverished countries deal with interest payments and perennial debt, according to press reports.