Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

June 23, 2000
LS-733

STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS

I am very encouraged by the U.S. Senate's adoption today of a bipartisan resolution urging the Congress to "fully fund bilateral and multilateral debt relief." The global HIPC (Heavily Indebted Poor Countries) Initiative is in urgent need of U.S. funds to continue the work of relieving the debt burden of millions of the world's poorest people in countries committed to economic reform and poverty alleviation. I appreciate the leadership of Senators Chafee, Sarbanes, Mack and Biden in today's action, and look forward to working with the Congress in the weeks ahead to obtain the funding requested by the Administration for this vital international program.