G7 creditors back debt freeze for tsunami-hit nations
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The world's seven leading industrialized countries have agreed to support the suspension of debt payments by countries affected by the tsunami disaster, the British treasury announced.
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G-7 approves debt relief, but British 'Marshall Plan' for poor countries faces US skepticism.
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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 Group of Seven major industrial nations agreed yesterday to allow tsunami-stricken countries to defer debt payments, a largely symbolic gesture but one that could boost broader debt-relief initiatives for poor nations later this year.
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European insurers face new costs and  travel firms could lose business after tsunami waves killed  more than 21,500 in Asia this weekend, but the financial impact  is expected to be limited compared with other disasters this  year.
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The chancellor presses the G8 to freeze all debts owed by countries hit by the Asian tsunami disaster, the BBC learns.
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World leaders are meeting in Indonesia to coordinate relief after the Indian Ocean tsunami. Should debt be cancelled? How long will it take the affected countries to rebuild?
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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 G7 group of industrialised states, led by the UK, is set to back a moratorium on debt repayments from countries hit by the Asian tsunami.
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British finance minister Gordon Brown  said on Thursday he has full support from other major  industrialized nations to freeze debt repayments from countries  afflicted by the Asian tsunami disaster immediately.
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CREDITOR countries in the Club of Paris, which includes Australia, are to discuss public debt owed by countries hit by the quake disaster in Asia at a meeting planned in Paris for January 12, a source for the creditors said 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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Indonesia on Thursday sent out mixed  signals about an interim freeze by Western governments of debts  owed by Indian Ocean countries devastated by last month's  tsunami, and Sri Lanka said it may not go far enough.
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Britain, which holds the presidency of the G8 bloc of leading industrialized nations, wants to reach agreement by mid-January on reducing the debt of the countries hit by the tsunami in Asia, the Financial Times reports.
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The United States, Germany and other G7  nations agreed Saturday to write off up to 80 percent or $33  billion of Iraq's Paris Club debt, which could pave the way for  a wider international accord, officials said.
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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 &#36;120 billion foreign debt in a move that could pave the way for a wider international accord, officials said.
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The Group of Seven wealthy nations  pledged to increase Third World debt relief on Saturday but a  deal struck after major disagreements fell short of proposals  floated by British finance minister Gordon Brown.