Guardian (Feb 7): Debt write-off deal close says G7

[Jack Rabbit]

From the Guardian Unlimited (UK)
Dated Monday February 7

Debt write-off deal close says G7
But US critical of proposals to help world's poorest nations
By Larry Elliott and Ashley Seager

The leaders of the world's richest nations are on course to sign a deal in the summer on debt relief, aid and trade to help the world's poorest nations, the government said yesterday.

Finance ministers from the G7 developed countries agreed an action plan at the weekend. Treasury sources said there was a consensus on the need for 100% debt write-offs, extra development assistance and better access for developing countries to western markets.

The next five months would be spent resolving arguments between Britain and its partners over the details.

The United States emerged at the weekend as the biggest critic of proposals outlined by the chancellor, Gordon Brown, for a new International Finance Facility to double aid flows and for debt relief to be part financed by a revaluation or sale of some of the huge gold reserves held by the International Monetary Fund.

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[Anarcho-Socialist]

1. Gordon Brown is a good man

and one of the few good things about the modern Labour Party