June 23, 1999


Last week, President Clinton and other world leaders convened for the 25th annual G-8 Summit in Cologne, Germany. A number of important agreements were reached during the Summit, including maintaining peace in Kosovo; strengthening trade between the U.S. and the European Union; assisting poor countries which are heavily in debt; and fostering political and economic stability in the Balkans.

Winning the Peace in Kosovo. This week, President Clinton and other NATO leaders accomplished several important goals towards maintaining peace in Kosovo:

Strengthening the US-EU Trade Partnership. The U.S. and EU took steps to strengthen trade relations by agreeing to:

Helping Heavily Indebted Poor Countries. G-7 leaders endorsed the Cologne Debt Initiative to enable Heavily Indebted Poor Countries (HIPCs) to receive deeper, broader and faster debt relief in exchange for commitments to channel the benefits into improving the lives of all their people. The initiative:

Strengthening the International Financial Architecture. G-7 leaders agreed on new measures to strengthen the international financial architecture, including:

Endorsing a Balkan Stability Pact. G-8 leaders negotiated a Balkan Stability Pact for Southeastern Europe to help countries in that region achieve political and economic stability. The pact is designed to:

June 1999

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June 6, 1999

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