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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Major economic powers agreed in principle to write off billions of dollars of debt for Iraq, officials said Sunday, with France in particular agreeing to compromise as it seeks improved ties with the United States.
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Britain will provide more debt relief for the world&#39;s poorest countries and challenge other rich governments to do the same, Prime Minister Tony Blair&#39;s government said Sunday.
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Rich countries are likely to back  Britain's bid to channel more debt relief and resources to  Africa, which is ready to shake off the shackles of poverty,  British finance minister Gordon Brown said.
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More than a quarter of Iraq&#39;s foreign debt burden could be forgiven after a framework agreement was reached by two of the country&#39;s main creditors.
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Global policy-makers may be starting to accept a weaker dollar as perhaps the only policy option left to correct the record US external deficits and keep the world&#39;s economic recovery on track, analysts say.
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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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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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Britain is prepared to write off a portion of debts owed by poor nations, and will challenge other rich countries to do the same, officials said Saturday.
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Indonesia has welcomed a German plan to propose a debt moratorium for the tsunami-hit country when the Paris Club of sovereign lenders next meets on January 20 and it hopes it will free up more funds for ...
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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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Chancellor of the Exchequer Gordon Brown said that finance ministers from the Group of Seven rich nations had for the first time expressed firm willingness to provide as much as 100 percent debt relief for the world's poorest countries.
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Britain will be seeking approval from the United States for its grand plan to help alleviate poverty in Africa when finance ministers from the Group of Seven industrialised nations convene here Friday and ...
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The United States and its G7 allies have reached agreement on a deal to forgive 80% of Iraq's huge debts without imposing any conditions, a G7 official said on Saturday.
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LONDON: The world's rich industrialised nations stepped up their efforts yesterday to help Asian countries devastated by the tsunami by offering to freeze billions of dollars in debt repayments.
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U.S., British officials voice confidence that accord will be struck next year to expand debt relief for several dozen nations in sub-Saharan Africa, Latin America and Asia.
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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.