Financial leaders, wrapping up three days of talks on Sunday, nailed down a landmark plan to wipe out poor countries’ debt and explored ways to limit the effect of rising energy prices.
The 184-nation International Monetary Fund and the World Bank held weekend sessions, while the world’s seven biggest industrial powers met as a group Friday.
The World Bank’s steering committee endorsed the debt cancellation deal on Sunday, one day after the IMF.
The plan would forgive an estimated $40 billion worth of debt for at least 18 poor countries–most of them in Africa.
U.S. Treasury Secretary John Snow said he expected approval of the plan within a week.
On the energy front, finance officials pledged to increase supplies, promote conservation and improve the release of timely data on oil production as a way of reducing wild price swings in energy markets.
