P.M. BRIEFING : World Debt Plan Gaining, Brady Says
<i> From Times wire services </i>
MADRID —
U.S. Treasury Secretary Nicholas F. Brady said today that his plan to reduce the developing world’s $1.2-trillion debt has gained important support and he called on key world bankers meeting in Madrid to move the plan forward.
Brady said the International Monetary Fund, the World Bank and the Paris Club, which represents governments of 14 industrial nations, have acted in recent weeks to support debt and debt-service reduction between debtor nations and commercial banks.
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