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.
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