Press Release: IMF Managing Director Rodrigo de Rato Welcomes the G8 Finance Ministers' Conclusions on Development
June 11, 2005
Press Release No. <a name="P16_75"></a>05/139
I welcome the G8 proposal to relieve the debt of the poorest countries. This proposal goes a long way toward helping Heavily Indebted Poor Countries (HIPCs) escape a heavy burden. It does so without compromising the commitment of the IMF to assist its poorest members and meet existing and projected obligations. I welcome the proposal for a new trust fund to help support poor countries facing unexpected shocks.
We will work with our membership to examine the details and implementation of the proposal and look forward to conclusion of an agreement by all Fund members.
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