G7 Differences Threaten to Sink Debt Relief Hopes

Overview

On June 18th, national leaders from the world’s largest economies have an opportunity to end the debt crisis crippling many of the world’s poorest countries. But there is a real danger that current proposals within the G7 will fail to deliver. Without active, personal engagement by the G7 leaders, the Cologne summit will mark a damaging reversal in international efforts to resolve the debt crisis. This briefing note outlines the issues at the heart of pre-summit negotiations in three key areas: the level of debt relief, the time frame for delivery, and financing.