WASHINGTON (October 4, 1999) -- Archbishop Theodore E. McCarrick, Chairman of the International Policy Committee, United States Catholic Conference, applauded President Clinton's pledge to cancel all U.S.-held debts of the world's poorest countries if they use the savings to "finance basic human needs."
The President's announcement is "another step toward achieving substantial if not outright cancellation of the debt of the world's most heavily indebted poor countries," Archbishop McCarrick said. "By doing so, the President has demonstrated the U.S. commitment to improving the lives and well being of millions of the world's most impoverished people."
"While the challenge to eliminate the debts of the world's poorest countries remains, the President's announcement brings the world community a step closer to a just solution to this pressing problem," Archbishop McCarrick stated. "We will continue to urge the Administration and Congress to do more to respond to the appeals for debt relief from Our Holy Father and the Church around the world."
President Clinton made the announcement (Sept. 29) at the fall annual meetings of the World Bank and International Monetary Fund here.
The full text of Archbishop McCarrick's statement.