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• Commonwealth Welcomes G8 Debt Write-off

Commonwealth Welcomes G8 Debt Write-off

11 June 2005

One-third of the first 18 countries to receive the full debt write-off are Commonwealth members.

Commonwealth Secretary-General Don McKinnon has welcomed plans by the G8 to write off the debts of the world's poorest countries.

The Secretary-General on 11 June 2005 said: "The G8 and all those who have worked so hard to achieve this outcome on debt are to be warmly congratulated. The Commonwealth has been advocating root and branch debt relief for highly indebted poor countries for 20-odd years, and we are pleased that others have taken forward the work we launched so many years ago.

"We are especially delighted that one-third of the first 18 countries to receive the full debt write-off are Commonwealth members, with others likely to benefit later on. The dam has been broken and the Commonwealth is now looking for similar positive advances on trade and aid for developing countries in order truly to make poverty history.

"The Commonwealth has shown conclusively that development and good governance are interwoven, and the G8's debt initiative demonstrates clearly their recognition of this fundamental relationship."