G7 supports tsunami debt freeze
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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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Chancellor Gerhard Schroeder stepped up the German government's pledge of financial aid to tsunami victims to $674 million (U.S.) today as European nations moved to step up help to the devastated region.
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WASHINGTON - Declaring that high oil prices are a threat to the global economy, the world's industrialized countries urged producers Friday to provide price relief by boosting supplies.    The Group of Seven countries - the United States, Japan, Germany, France, Britain, Italy and Canada - also resolved to agree on providing battered Iraq with relief from its massive debt burden while also working on a deal to increase debt relief for the world's poorest countries...
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PARIS/ROME  - Italy called on Group of Eight rich  nations Thursday to discuss a joint response to the Indian  Ocean tsunami catastrophe as moves to grant debt relief to some  of the stricken countries gathered pace.
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As the World Bank and International  Monetary Fund assess economic costs to South Asian governments  of the cataclysmic tsunami, the current outpouring of aid could  mean international lenders won't need to step in with new  loans, economists said on Tuesday.
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Japan will provide around $30 million in  aid to countries hit by an Indian Ocean tsunami that killed  more than 29,000 people, and will send three navy vessels to  waters off Thailand to help rescue survivors.
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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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The Paris Club of creditor nations reached an agreement Wednesday to freeze debt repayments of countries hit by the Asian tsunami, the Club's president said.
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As the World Bank and International Monetary Fund assess economic costs to South Asian governments of the cataclysmic tsunami, the current outpouring of aid could mean international lenders won't need to step in with new loans, economists said on Tuesday.
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The UK chancellor presses the G8 to freeze all debts owed by countries hit by the Asian tsunami.
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The Paris Club group of creditors is to examine a debt moratorium for countries hit by the tsunami that devastated southern Asia, a source close to the Club said.
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World leaders are realising that big donations for tsunami aid can yield political benefits, says the BBC's John Simpson.
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LONDON  - Britain and Australia followed Japan and the United States in pledging dramatic increases in emergency aid for victims of the tsunami disaster in Asia as the world community struggled to cope with its mushrooming fallout.
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BANDA ACEH, Indonesia  - Rich creditor nations  threw a lifeline to the millions of survivors of the Asian  tsunami by agreeing on Wednesday to freeze debt repayments  across the affected region.
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Italy called on Group of Eight rich nations on Thursday to discuss a joint response to the Indian Ocean tsunami catastrophe as moves to grant debt
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US Secretary of State Colin Powell has backed debt relief for Asian countries devastated by this week&#39;s killer tsunami, and said Washington was ready to play a major role in the long term recovery.
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LONDON, Feb 2 (IPS) - Bold new proposals for debt relief for the poorest  countries will be put to the test at the G7 finance ministers  summit in London this weekend.