U.S. action on debt relief is welcomed, enables IMF to meet contribution to HIPC

• Pages: 365

Page 365

In a news brief issued on October 25, IMF Acting Managing Director Shigemitsu Sugisaki welcomed the action by the U.S. Congress to finance debt relief for the world’s poorest countries. The full text of News Brief No. 00/96 is available on the IMF’s website (www.imf.org).

Sugisaki particularly welcomed the approval of legislation that will enable the IMF to meet its commitment to provide $2.2 billion toward the Heavily Indebted Poor Countries (HIPC) Initiative. “Faster and deeper debt relief is critical,” Sugisaki underscored. “Today’s action by the U.S. Congress will ensure that the IMF can finance its commitment to the HIPC Initiative. Without congressional approval, we would not have been able to fully utilize the...