London, Jan. 8 (Reuters): Finance ministers of the Group of Seven industrialised countries said yesterday they have agreed to freeze the debt repayments of nations hit by the Asian tsunami and will work with the Paris Club and other creditors on arranging how.

The G7 finance ministers agreed to urge the IMF, the World Bank and the Asian Development Bank and other multilateral institutions to make the strongest possible efforts to assist ravaged nations struggling with a tragedy that has left more than 150,000 people dead.

The relief would be available to countries that wish it.

?We would not expect debt payments from affected countries that request it until the World Bank and IMF have completed a full needs assessment of their reconstruction and financing requirements, recognising that some countries may be unable to make debt payments,? the G7 said.

?We will work, within the Paris Club, with other creditors to achieve a consensus for this approach,? the statement said. This year Britain is president of the G7, which also includes the US, Japan, Germany, France, Italy and Canada.