G8 COMMUNIQUÉ OKINAWA 2000

Henk Elegeert HmjE at HOME.NL
Fri Jul 28 05:55:00 CEST 2000


REPLY TO: D66 at nic.surfnet.nl

Arie Dirkzwager schreef:

[..]
> Moeilijk te lezen door alle
> mooie woorden en zinswendingen. Kan iemand me helpen? Wat is er waar van de
> kop van Trouw hierover dat de rijke landen weigeren armew landen hun
> schulden (of een deel daarvan) kwijt te schelden?

http://www.g8kyushu-okinawa.go.jp/e/documents/poverty.html
"
Poverty Reduction and Economic Development

                               Report from G7 Finance Ministers

                              to the Heads of State and Government

                                  Okinawa, 21 July, 2000



                                    Table of Contents

paragraph
        A. A comprehensive Approach to Development

1-4
        B. HIPC Debt Relief

5-11
        C. Going beyond Debt Relief

12-15
        D. Improved Trade and Investment Environment

16
        E. Faster Integration into the Global Economy

17-19
        Annex - The Heavily Indebted Poor Countries Initiative: Progress
in Implementation


                          Poverty Reduction and Economic Development
                  (Report from G7 Finance Ministers to the Heads of
State and Government)


        A. A Comprehensive Approach to Development

        1.
          With the dramatic change in the world economy that has come as
a result of the rapid progress in
          globalization, it is vital that the international community
take action to ensure that developing countries
          have the opportunity to benefit from the forces of
globalization and to play their role in the world
          economic system. It is a key objective to take a
forward-looking approach in a strategic and intensive
          manner, in order to assist these countries in their efforts to
attain sustained poverty reduction and
          economic development, and achieve the International
Development Goal of a reduction by one half of
          the proportion of people living in extreme poverty by 2015.
        2.
          Experience has shown the importance of sustainable growth as a
necessary condition for poverty
          reduction. All development partners should focus on priorities
that will bring about the robust growth
          necessary to meet the 2015 goals. These priorities should
include achieving macroeconomic stability,
          encouraging private sector development, promoting good
governance, investing in social
          development, accelerating trade liberalization, and
strengthening financial sectors.
        3.
          While growth is crucial in the fight against poverty, greater
attention must be paid to a more equitable
          distribution of the benefits of growth. To this end, the right
social policies are essential, including
          institution building, education and skills development, and
the improvement of health including through
          the fight against infectious disease. These are the foundation
for poverty alleviation and greater social
          equity. Social investment secures high returns over the longer
term.
        4.
          Combating global poverty requires a multi-dimensional
approach. To achieve this, poor countries
          need to produce their own comprehensive Poverty Reduction
Strategies, centered on the
          International Development Goals. These strategies will provide
a vital link between social and
          economic policies needed to reduce poverty and increase
growth. They should emphasize
          transparency, accountability, elimination of wasteful
expenditure, and good governance. These
          strategies should also be developed through participatory
processes involving civil society. The
          International Financial Institutions (IFIs) and bilateral
donors should assist countries in developing and
          implementing these strategies, including through technical
assistance.
        B. HIPC Debt Relief

        5.
          For the heavily indebted poor countries (HIPCs), debt relief
through the enhanced HIPC Initiative is a
          crucial part of establishing a virtuous circle of poverty
reduction and economic development. Last
          year in Cologne, we agreed to launch the Initiative to deliver
faster, broader, and deeper debt relief,
          releasing funds for poverty reduction. We welcome the
endorsement of this initiative by the
          international community last autumn.
        6.
          Since then, the implementation of the Initiative has begun.
[Nine] countries have reached decision
          points and are receiving debt relief under the new framework
which should total more than US$15
          billion in nominal terms (US$8.6 billion in net present
value)[12.5 billion US dollars]. Up to [eleven]
          further countries could reach the decision points by the end
of this year. Further details on the
          progress of the enhanced HIPC Initiative are set out in the
attached annex.
        7.
          We encourage those HIPCs that have not done so to embark
quickly on the process by beginning to
          develop Poverty Reduction Strategies, in close cooperation
with the World Bank and the IMF, and
          thus benefit from debt reduction. We will work together to
ensure that as many countries as possible
          reach their decision point, in line with the targets set in
Cologne, giving due consideration to the
          progress of economic reforms and the need to link debt relief
to poverty reduction. In this respect, we
          are concerned by the fact that a number of HIPCs are currently
involved in military conflicts, which
          prevent poverty reduction and delay debt relief. We call upon
these countries to end their involvement
          in conflicts and to embark quickly upon the HIPC process. In
that eventuality, we stand ready to
          strengthen our efforts to help them prepare and come forward
for debt relief.
        8.
          We encourage the World Bank and the IMF to continue to make
efforts toward speedy and effective
          implementation of the Initiative. In this regard, we welcome
the establishment in April of the new Joint
          Implementation Committee by the World Bank and the IMF, and
urge the Committee to effectively
          facilitate the implementation of the HIPC Initiative and
provide regular information on the status of
          individual countries.
        9.
          We note the progress made in securing the required financing
of the IFIs for effective implementation
          of the enhanced HIPC Initiative. We encourage effective and
timely participation of all multilateral and
          bilateral creditors, including non Paris Club members.
Resources for the IMF and World Bank's
          share of the costs of debt relief have been identified and
substantial contributions to the financing
          needs of other IFIs have been pledged. We urge MDBs' active
engagement in the Initiative through
          the maximum use of internal resources. We welcome the recent
progress made in putting together
          financing that will promote debt relief for HIPC countries in
Latin America and Africa.
        10.
          We reaffirm our commitment to make available as quickly as
possible the resources we have pledged.
          In this context, we recognize the importance of fair burden
sharing among creditors. We encourage
          new contributions by bilateral donors to the HIPC Trust Fund.
        11.
          We reaffirm our commitment to bilateral debt reduction within
the HIPC framework. In this respect,
          we have now committed ourselves to grant 100% debt
forgivenessreduction on our commercial
          claims eligible for treatment in the framework of the Paris
Club. We welcome the announcement
          made by some other countries that they too will provide 100%
debt reliefforgiveness, and we urge
          other creditors to follow suit.
        C. Going beyond Debt Relief

        12.
          Official Development Assistance will continue to be crucial to
support and encourage efforts for
          poverty reduction and economic development by poor countries.
In this context, we welcome the
          recent reversal in the trend of declining aid levels. In order
to ensure that those countries to which the
          Initiative is applied do not face again excessive debt burden,
we have committed ourselves to extend
          ODA mostly in the form of grants for these countries.
        13.
          Experience shows that economic assistance to countries with
sound management raises growth and
          improves social conditions. Donors can play their part by
directing aid more effectively to those poor
          countries that are serious about tackling economic reforms and
poverty reduction. Donors should also
          improve the effectiveness of their support by coordinating
their aid better in support of
          well-considered and recipient-led programs, and simplifying,
and where feasible harmonizing, aid
          procedures.
        14.
          In order to ensure responsible lending practices, it is vital
that donors reaffirm their commitment to
          discourage unproductive expenditure. In this context, we call
upon the OECD to review through its
          export credit group strengthened measures toward ensuring that
export credit support to HIPCs and
          other low income developing countries is not used for
unproductive purposes. The result of this
          review should be published and could include the review of the
relevant existing national rules and
          regulations. We encourage the OECD to complete this work as
soon as possible. In addition, we
          welcome efforts by the IFIs and other donors to encourage poor
countries to pursue sound debt
          management policies to ensure the productive use of resources.
        15.
          Global public goods such as environment and health deserve
priority attention and require strong
          involvement of the IFIs, in particular the World Bank and the
regional development banks, and also
          by bilateral donors. To be effective, the involvement of the
international community in global public
          goods should be built on the principles of comparative
advantage and priority-setting.
        D. Improved Trade and Investment Environment

        16.
          In view of the close link between trade and investment growth
and economic growth, trade and
          investment will play a critical role in promoting effective
poverty reduction and sustainable economic
          growth. We must find ways to give HIPC and other low-income
developing countries a stake in
          world trade and to improve access for these countries to
international markets. We should ensure that
          the forthcoming WTO round actively promotes the interests of
these countries, so that they too can
          benefit from trade liberalization. We should also promote
regional cooperation among these countries
          in accordance with WTO rules, which often represent a welcome
first step towards further integration
          in global economy. We call on the relevant international
organizations, particularly the WTO and the
          World Bank, to strengthen their efforts to help build
trade-related capacity in the poorest countries.
          We should also support the efforts of poor countries to create
a welcoming environment for
          productive investment.
        E. Faster Integration into the Global Economy

        17.
          In view of the rapid progress of globalization and the IT
revolution, it is important for developing
          countries including the poorest to harness the benefits of new
advances in IT and prevent digital
          divide. It is crucial that the international community
emphasize capacity and institutional building
          including those related to IT, such as investment in human
capital.
        18.
          In the longer term, there will be a need to ensure that all
developing countries have the ability to
          progress up the ladder of development. In many countries,
domestic savings and private capital flows
          already play an important role in financing development.
Putting in place the conditions for increased
          levels of stable forms of private financing and investment is
key to achieve sustainable development.
        19.
          While many developing countries will continue to be reliant on
concessional aid flows for the
          foreseeable future, the IFIs should give some consideration to
ways for these countries to participate
          in the global financial marketplace in the future. The
objective must be to provide a "roadmap" to
          support developing countries make the journey from isolation
to integration, growth and development.


        ANNEX-
               The Heavily Indebted Poor Countries Initiative:
               Progress in Implementation

        1.
          The enhanced HIPC Initiative launched at Cologne last year is
aimed at providing faster, broader and
          deeper debt relief for the HIPC countries and at ensuring that
the benefits of debt relief are used to
          reduce poverty. The link between debt relief, economic and
social policy reforms and poverty
          reduction in the HIPC process is made through the development
of comprehensive Poverty
          Reduction Strategy Papers (PRSPs). PRSPs are developed by the
HIPC country itself, through a
          participatory process involving civil society and with the
support of the International Financial
          Institutions and donors.
        2.
          Nine countries (Benin, Bolivia, Burkina Faso, Honduras,
Mauritania, Mozambique, Senegal,
          Tanzania, and Uganda) have reached their decision points under
the enhanced initiative. For the nine
          countries, debt relief has been agreed that will provide
savings of more than US$15 billion in nominal
          terms (US$8.6 billion in net present value). This represents,
on average, a reduction in countries'
          stock of debt of about 45 per cent in addition to traditional
debt relief mechanisms. This figure will be
          further increased by the reduction in Official Development
Assistance (ODA) debt which we agreed
          at Cologne and by the commitment we have now made to grant 100
per cent debt forgiveness on
          eligible commercial debt owed to us by HIPCs which achieve
debt reduction under the initiative.
        3.
          Going forward, according to the latest IMF and World Bank
estimates, up to eleven further countries
          could reach decision points before the end of this year
(Cameroon, Chad, Cote d'lvoire, Guinea,
          Guinea-Bissau, Guyana, Malawi, Mali, Nicaragua, Rwanda and
Zambia). This would bring total debt
          relief agreed under the HIPC initiative of around US$35
billion in nominal terms (around US$20
          billion in net present value). Again this amount will be
increased by the reduction in ODA debt and
          our commitment to grant 100 per cent debt forgiveness on
eligible commercial debt.
        4.
          The decision point for these countries will depend on their
commitment to poverty reduction and
          economic growth, as demonstrated by their progress in
developing poverty reduction strategies and
          their performance in relation to their IMF programmes.
Progress in implementing these commitments
          would clearly be undermined by situations of armed conflict or
significant political unrest.
        5.
          There remain 20 HIPC countries. Of these:
          -
           Four countries (Angola, Kenya, Vietnam and Yemen) are not
expected to meet the indebtedness
           thresholds for the higher, enhanced HIPC debt reduction;
          -
           Two countries have decided not to seek relief under the
enhanced initiative (Ghana, Lao PDR);
          -
           Two countries with IMF programmes are in the process of
establishing the necessary track record.
           In the meantime, both countries are receiving traditional
debt relief (Paris Club Naples Terms
           (67%)) in the context of their current IMF programme
(Madagascar and Sao Tome and Principe);
          -
           Twelve countries have not at present agreed programmes under
the IMF's Poverty Reduction and
           Growth Facility, performance against which is necessary for
decision point (Burundi, Central
           African Republic, Democratic Republic of Congo, Republic of
Congo, Ethiopia, Liberia, Myanmar,
           Niger, Sierra Leone, Somalia, Sudan and Togo). The speed at
which these countries can go
           forward to decision point will vary greatly. A few are close
to embarking on the process. Ten
           countries are affected by conflict. Some are experiencing
political unrest and macro economic
           instability. In such circumstances, many remain unable to
commit to the HIPC framework which is
           intended to ensure that the resources made available through
debt relief are used for poverty
           reduction within a policy framework directed to economic
growth.
"

Toch wat gevonden nog.
Nog lezen.

Henk ELegeert

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