Latest Heavily Indebted Poor Countries Stories

2005-12-19 17:37:41

By Laura MacInnis WASHINGTON (Reuters) - U.S. lawmakers on Monday urged the International Monetary Fund to erase the debts of 18 poor countries, as mandated by the Group of Eight nations, while aid groups warned the deal may be under threat. Six members of the House of Representatives Financial Services and International Relations panels, including Iowa Republican James Leach and California Democrat Maxine Waters, wrote to IMF Managing Director Rodrigo Rato urging the fund to cancel...

2005-08-03 00:16:53

By Lesley Wroughton WASHINGTON (Reuters) - The World Bank is calling for substantial changes in the highly-touted debt relief proposal for poor African countries agreed to at last month's Group of Eight summit. A World Bank staff report given to Reuters says the deal reached by leaders of G-8 industrialized nations -- the United States, Britain, Germany, France, Japan, Italy, Canada and Russia -- lacks sufficient compensation to the bank's low interest lending arm most affected by the debt...

Word of the Day
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.