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 WASHINGTON (AP) - A deal to erase billions of dollars of debt for poor countries cleared an important hurdle Saturday, winning the endorsement of the International Monetary Fund's steering committee.
The breakthrough was announced by Gordon Brown, Britain's chancellor of the exchequer, who is the chairman of the IMF's policy-setting panel.
Brown said negotiators had reached agreement on "all elements" of the debt cancellation deal. He said the IMF's 24-member executive board would meet soon to formally approve the deal.
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