P.M. BRIEFING : Global Lenders Back U.S. Debt Plan
The United States won a pledge of prompt action today on its Third World debt reduction program from the two most powerful lending agencies, the International Monetary Fund and the World Bank.
On the final day of the two organizations’ spring session, their steering committee said that moving forward with the proposal is “a matter of urgency.”
A key element of the plan authored by Treasury Secretary Nicolas F. Brady was not endorsed by the steering committee, however. The finance ministers agreed only to examine further a proposal for reducing interest rate payments.
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