June 22, 2005

The following is a true copy of a Resolution adopted by the Executive Council at its meeting on June 13-16, 2005 in Louisville, Kentucky, at which a quorum was present and voting.

Resolved, That the Executive Council meeting in Louisville, KY, June 13-16, 2005, commends the Administration of the United States government for its recent action as part of the G8 nations in forgiving up to $55 billion of international debt of 18 of the poorest countries of the world, in payment of which the United States pledges to contribute $1.75 billion over the next decade, and be it further

Resolved, That the Executive Council calls on the United States government to urge the G8 nations to extend the debt forgiveness relief to the 44 other neediest nations and move towards the United Nations millennial goal of cutting debt of the poorest nations to half by 2015.

                                                            Explanation

On Saturday, June 11, 2005, eight finance ministers of G8 countries agreed to cancel up to $55 billion in foreign debt owed by 18 of the world�s poorest nations.  Paul Wolfowitz, the new head of the world Bank, praised the historic agreement but urged the group to extend the relief to Nigeria, Africa�s biggest debtor.

Executive Council called for debt forgiveness in 1990 (March 5-9, 1990, Kansas City, MO, pp.14-15) and 1995 (June 12-15, Bellevue, WA, pp.45-46).

General Convention called for debt forgiveness in 1994 (D029) as a part of preparation for Jubilee 2000 and reaffirmed this commitment in 1997 (D017).

The Reverend Dr. Gregory S. Straub

Secretary of the Executive Council and

the Domestic and Foreign Missionary Society

of the Protestant Episcopal Church in the United States of America