US embassy cable - 05TEGUCIGALPA1423

UNCLAS TEGUCIGALPA 001423 
 
SIPDIS 
 
DEPT. FOR WHA/PD; IIP/G/WHA DIPASQUALE; AND IIP/T/ES 
DEPT. FOR PM AND EB/TRA 
DEPT. FOR WHA/EPSC, WHA/PPC AND WHA/CEN 
 
E.O. 12958: N/A 
TAGS: OIIP, KPAO, PGOV, MASS, EAID, HO 
SUBJECT: MEDIA REACTION ON DEBT FORGIVENESS AND IMF, JULY 
06, 2005 
 
 
2. On 07/05 the San Pedro Sula-based liberal daily "Tiempo" 
carried an op-ed by Jose Salomon Perdomo, Director of the 
Institute of Scientific Research and Superior Education, 
entitled "How to boost Latin American and Caribbean 
economies."  "The Managing director of the IMF, Rodrigo de 
Rato, praised the proposal of the leader of the Group of the 
Eight to alleviate the debt of the poorest countries. The 
IMF will examine the details and the proposal's 
implementation and work with the G-8 to settle on an 
agreement." 
 
"The proposal to be presented in the annual meeting of the 
IMF and World Bank in September could lead to total debt 
cancellation and will allow the countries to accelerate 
their poverty reduction programs and increase their capacity 
to reach the Millennium objectives." 
 
"It is estimated that the actual resources of the IMF cover 
debt relief costs without menacing their financial 
capacity." 
 
"The leader of the G-8 also proposed creating a fiduciary 
fund to support the poorest countries that face `shocks' 
such as in basic product prices. The annual economic summit 
of the G-8 will take place in Gleneagles, Scotland, from 
July 6 to 8." 
 
Palmer