News Brief

Finance ministers agree to freeze debts of tsunami countries -08/01/05

Christian campaigners will be heartened by the news that finance ministers of the Group of Seven industrialised countries have agreed to freeze the debt repayments of nations hit by the Asian tsunami and will work with the Paris Club and other creditors on arranging how. Christian aid agencies welcomed the initial proposal of the UK Chancellor Gordon Brown to suspend debt service payments of countries affected by the Indian Ocean tsunami. The chancellor said the plan would save the most affected countries about £1.58bn in repayments.