(Archived Content)
TG-601
The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner on the consensus reached at the Inter-American Development Bank (IDB) Annual Meeting in Cancun, Mexico:
The IDB played an important role in stabilizing the region during an incredibly challenging time. I applaud the consensus reached in Cancun to double the IDB's pre-crisis long-term lending capacity, which will enable the IDB to act more effectively in addressing poverty and inequality in our region.
A key part of this package is to implement a robust set of reforms critical to strengthening financial discipline and accountability, setting priorities that meet urgent regional challenges and increasing development effectiveness.
The earthquakes in Haiti and Chile present new important challenges to the IDB. I strongly endorse the commitment to provide Haiti with debt relief in a way that makes grant resources available now and over time to support a long-term effort of building a better future.
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