Britain has proposed that the Group of Eight of industrialised nations
push for an immediate moratorium, reduction and exemption on some debt
repayments from countries hit by the tsunami disaster.
Chancellor of the Exchequer Gordon Brown says the move will be a part of
effort to ease the burden of reconstruction work in the India Ocean countries.
He notes that the plan, involving 5.7 billion US dollars, has gained support
from the US and discussions are underway with other countries including France,
Germany, Italy and Japan.
Brown hopes to announce the deal at a meeting of the Paris Club group of
creditor nations next week.
It is estimated that the losses caused by the fatal tsunami amount to 14
billion US dollars.
