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Saturday, 8 January, 2005

G7 supports tsunami debt freeze

The G7 group of industrialised nations has announced a freeze on debt payments from the countries affected by the Asian tsunami.

UK Chancellor Gordon Brown unveiled the accord on Friday, ahead of a meeting of the Paris Club of creditor countries on 12 January.

The deal will only freeze repayments, rather than cancel the debt itself.

The G7 is also likely to urge the Asian Development Bank (ADB) to speed up its assistance to the stricken countries.

Read the Full Article on the BBC News
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