This script changes the color of buttons when they are rolled over.
United States, France, Russia, United Kingdom, Italy, Germany, Japan, Canada, European Union
Sea Island Summit 2004 Logo
 
Whitespace
Summit Home Button About the G8 Summit Button G8 Member Nations Button Summit Security Button Sea Island Summiteer Button Turtle Tracks Button About Coastal Georgia Button Frequently Asked Questions Button Contact Us Button
World Map Media Header
dots
dots
dots
dots
dots
dots

THE WHITE HOUSE
Office of the Press Secretary
( Sea Island , Georgia )
For Immediate Release
June 10, 2004

DEBT SUSTAINABILITY FOR THE POOREST

The Heavily Indebted Poor Countries Initiative (HIPC) has to date provided welcome debt reduction to 27 countries pursuing economic reform programs, 23 of them in Africa , and is providing $31 billion in debt service relief over time. We are committed to fully implementing the HIPC initiative and to supporting debt sustainability in the poorest countries through debt relief and grant financing. To that end, we have asked our Finance Ministers to:

  • Work with other donors and the international financial institutions to extend the sunset date of the HIPC initiative until December 31, 2006 and to provide the necessary financing for completion of the initiative, including topping up where appropriate.
  • Consider measures that can further help the poorest countries address the sustainability of their debt.

We have asked for a progress report on these efforts by the end of the year. We urge other creditors to fully participate in the HIPC initiative.

###

Small Oak Tree