G7 says willing to provide full debt relief amid 'Marshall Plan' rift
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The Group of Seven industrialized countries broke new ground as they for the first time expressed readiness in a formal statement to provide 100 percent debt relief for the world's poorest nations.
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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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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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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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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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PARIS -- Rich creditor nations offered yesterday to let tsunami-hit countries halt repayments on billions of dollars of debt, possibly for as long as a year, the chairman of the Paris Club said.
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British finance minister Gordon Brown  will say on Thursday he has full support from all the G7  industrialized nations to immediately freeze debt repayments  from countries afflicted by the Asian tsunami disaster.
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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 G7 wealthy nations on Saturday predicted solid economic growth and subdued inflation this year while repeating currency declarations that some economists believe could limit the dollar's decline.
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UNITED STATES WASHINGTON -- The United States and its major economic allies struggled yesterday to resolve deep differences over how to relieve the heavy debt burden for Iraq and the world's poorest countries. Debt relief and broader topics of international finance topped the agenda for finance officials attending committee meetings of the International Monetary Fund and the World Bank. Treasury ...
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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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The U.S. and top financial institutions indicated that they were closing in on an agreement to forgive the debts of many of the world's poorest countries.
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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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WASHINGTON - The world's major economic powers were far apart Saturday on agreeing how to provide debt relief for Iraq and the poorest nations, as finance officials began broader discussions about the global economy.    Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan led the U.S...
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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, a move they said should pressure other Group of Seven rich countries to follow suit.
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PARIS, Jan 17 (IPS) - The richer nations have made much of the freeze  they have offered on debt repayments from tsunami-hit countries,  but many of the affected countries do not seem to want this  concession.
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The Group of Seven finance ministers and central bank governors gathering in Tokyo on Saturday will reaffirm their determination to ensure financial stability, according to a draft G7 statement obtained by Reuters.