ABSTRACT
I welcome this opportunity to review recent developments and current prospects for addressing international debt problems. The debt crisis which emerged six years ago posed potentially serious risks to the debtor-nations and the global economy. Through mutual effort and cooperation, we have reduced these risks and improved the debtors' prospects for a return to steady growth and creditworthiness. In my remarks 1 would like to summarize the basic principles underlying the current debt strategy; review recent progress; touch on the role of creditor governments and commercial banks; and consider with you the key issues we now have to address.
