The Köln Debt Initiative: An Initial Response
In many ways, it can be seen as the end of the beginning, rather than the beginning of the end.-Roy Culpeper, President the North-South Institute
The Köln Initiative, measured by its rhetoric, is two steps forward, one step backwards. In reality we may not have moved much at all.- Derek MacCuish, Programme Coordinator, Social Justice Committee of Montréal
The Halifax Initiative, a broad-based coalition of Canadian non-governmental organizations, welcomed the desire to improve the HIPC Initiative by the G7 governments expressed in the Köln Debt Initiative. Unfortunately, this welcome is qualified by the concern that two major issues remain unresolved, so that the effort to lift the debt burden of the poorest countries remains insufficient. The welcome is also qualified due to a wariness of the gap between what the G7 may wish and what the IFIs may do.