IMF writes off debt of 18 poor nations
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25/12/2004
Eighteen of the poorest nations will have their debts to the International Monetary Fund wiped out after rich countries bridged differences that threatened a pact first signed this summer. Leaders of the Group of Eight nations pledged at a July meeting in Gleneagles, Scotland, to cancel all debt owned to the international institutions by the world's poorest states, an agreement roughed out by their finance ministers the month before.