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For Immediate Release
Office of the Press Secretary
November 14, 2007

Statement by the Press Secretary

President Bush welcomes the agreement by International Monetary Fund (IMF) shareholders to finance debt relief for Liberia. The United States, in partnership with the G-8 and the managements of the IMF, the World Bank, and African Development Bank, worked hard to secure the funding necessary for 100 percent multilateral debt relief. This follows the U.S. commitment to provide $391 million in bilateral debt relief for Liberia. Collectively, this will unlock significant resources in support of the economic turnaround begun by President Ellen Johnson Sirleaf.

The United States has led international efforts to bring peace and prosperity to the Liberian people, including ending the destructive civil war, conducting free and fair elections, and delivering critical reconstruction assistance.

President Bush's landmark initiatives on debt relief, HIV/AIDS, malaria, and education have helped to bring prosperity and hope to millions of people in Africa. Treasury Secretary Paulson and Deputy Secretary of State Negroponte are traveling in Africa this week to further advance these important efforts.

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