Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-01-12-Speech-3-228"
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"en.20050112.11.3-228"2
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".
Madam President, the Commission has taken careful note of this discussion on the important issue of debt relief. A number of important and useful suggestions and comments were made today. I should like to respond as follows.
First, it should urgently be emphasised that poverty is not just a question of debt relief. The real issue is appropriate levels of development financing. Second, it is important to distinguish between different countries, in particular between the least developed countries and other developing countries.
Third, the
figures on debt relief were not presented to you with the aim of cutting back on aid, but rather the opposite: to use this criteria in order to alleviate the debt burden for those countries that really need it most.
Fourth, the UN and the Commission will coordinate their efforts with other international organisations on the HIPC and other initiatives.
Fifth, a new World Bank-IMF sustainability framework recognises the inadequacy of existing debt relief efforts. The new framework will: first, set indicative debt burden thresholds that are country-specific; second, take account of external shocks; third, ensure greater transparency and dialogue in assessing that sustainability. That is what the new sustainability framework is all about.
Lastly, relief for Iraq should not be at the expense of the poorest countries, and a debt moratorium for countries hit by the tsunami would be appropriate.
The Commission will closely follow the issue of the external debt of developing countries, in particular the least-developed ones. There also remains much to do as regards considering debt relief for the countries of Southeast Asia hit by the earthquake and tsunami. The Commission will maintain a continuous dialogue with the European Parliament in all the above fields of action.
We all agree that for some developing countries external indebtedness is a major obstacle to growth and development. Debt relief can indeed be a useful tool in that quest, but by no means can it offer a full response. Aid, socio-economic policies, trade policies, etc. that ensure the sustainability of these countries in the long run are crucial. That is what they would want and what they deserve."@en1
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