Accessibility links

No Agreement on Debt Relief at IMF Meeting - 2004-10-03

Finance ministers and central bank chiefs from around the world are discussing economic issues for a second day Sunday) at the International Monetary Fund and World Bank in Washington.

All 184 member nations are due to meet in a plenary session, but no significant progress on the key issue of debt relief for developing countries is expected.

Reports say there is general agreement that debt relief is needed, but no consensus on how such a program should be carried out.

IMF chief (managing director) Rodrigo Rato has urged world leaders to work at keeping the rebounding world economy on track. He warns that rising oil prices and political instability around the world could increase inflation and slow global economic growth.