Jennifer Davis; The Africa Fund
New York, New York, United States
March 11, 2000
2 pages
Contents: Mozambique Floods • Africa’s Debt Crisis and the Cologne Initiative • Action Needed – Debt Relief Threatened • The Senate Appropriations Committee is expected to mark up the supplemental appropriations bill the week of March 20 • Memorandum to members of NBC-LEO (National Black Caucus of Locally Elected Officials). The memorandum says as international aid starts to come in, Mozambique is still having to make payments on its international debt, although it has already fulfilled the strict conditions necessary to receive some multi-lateral debt relief under the Highly Indebted Poor Countries Initiative (HIPC) in April. The memorandum...
Contents: Mozambique Floods • Africa’s Debt Crisis and the Cologne Initiative • Action Needed – Debt Relief Threatened • The Senate Appropriations Committee is expected to mark up the supplemental appropriations bill the week of March 20 • Memorandum to members of NBC-LEO (National Black Caucus of Locally Elected Officials). The memorandum says as international aid starts to come in, Mozambique is still having to make payments on its international debt, although it has already fulfilled the strict conditions necessary to receive some multi-lateral debt relief under the Highly Indebted Poor Countries Initiative (HIPC) in April. The memorandum says in response to the international campaign for poor country debt cancellation, in June 1999 the leaders of the G-7 (leading industrial countries) adopted the Cologne Initiative with strong support from President Clinton. The memorandum says I hope that Councilman Coats, on behalf of NBC-LEO, will fax a letter to the Committee Chair Senator Ted Stevens (R-AK) and Senator Robert Byrd (D-WV), the Ranking Member, as soon as possible and urge them to ensure full funding for the Cologne Initiative including $210 million for fiscal year 2000 for the HIPC Trust Fund in the supplemental appropriations bill. The memorandum says I also hope NBC-LEO can put itself on record as supporting debt cancelation and endorsing the Jubilee 2000 Campaign, a worldwide effort for debt forgiveness; both the U.S. Conference of Mayors and the National Black Caucus of State Legislators have adopted resolutions supporting debt relief for poor countries.
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Used by permission of Africa Action (successor to The Africa Fund).
