G-8 Leaders Set to Approve $1B AIDS Fund

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Friday, July 20, 2001, updated at 16:01(GMT+8)

World

G-8 Leaders Set to Approve $1B AIDS Fund

Leaders of the world's richest countries were expected to approve a $1 billion fund to combat AIDS at a summit beginning Friday.

The leaders planned to unveil only hours after the summit begins Friday a new global health fund to combat AIDS with an initial contribution of $1 billion from wealthy countries.

The AIDS fund will be announced after an opening lunch and early afternoon session dedicated to assessing vulnerable spots in the current global economy �� a list expected to cover a U.S. economy flirting with recession, a Japanese economy probably in a downturn and growing threats to big emerging economies such as Argentina, which is struggling to avoid defaulting on $130 billion in foreign debt.

But the Bush administration insisted that efforts in the United States to cut taxes and reduce interest rates offered the prospect of better days ahead for the global economy.



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	Leaders of the world's richest countries were expected to approve a $1 billion fund to combat AIDS at a summit beginning Friday.




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