Call to suspend disaster nations’ debts

BRITAIN’s Chancellor of the Exchequer Gordon Brown yesterday released details of proposals for the suspension of debt repayments by countries hit by the Asian earthquake.

The scheme, to be discussed by the Paris Club of major creditors next week and by a meeting of finance ministers of rich nations early in February, could save the worst-hit countries up to £1.6 billion (€2.25bn).

Mr Brown said he was “confident” of winning the support of countries such as the US for the moratorium, put forward by Britain in its role as president of the G8 group of industrialised countries for 2005.