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CDC HIV/AIDS/Viral Hepatitis/STD/TB Prevention News Update
G-7 Summit Offers Poor Nations Plan for Substantial Debt
Babington, Charles
June 21, 1999
Washington Post (06/19/99) P. A1

At the summit meeting of the Group of Seven leading industrialized democracies on Friday, participants agreed upon a program that could eliminate up to $90 billion in debts owed by more than 30 poor nations. The debt relief was contingent upon the countries directing the savings primarily to education and health efforts, particularly HIV prevention. President Clinton noted that the agreement "is an historic step to help the world's poorest nations achieve sustained growth and independence while targeting new resources for poverty reduction, education, and combating AIDS." Under the Cologne Initiative, the debt burden for some or all of the world's 33 poorest countries--which totals $127 billion to industrialized nations and institutions--could be eliminated, if they meet the program's conditions.

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