The World Bank and the International Monetary Fund have agreed to proposals for debt relief made on behalf of Least Developed Countries, according to D. Raja, National Secretary of the Communist Party of India.
Speaking to The Hindu during a visit to New York City to address a committee of the United Nations General Assembly Mr. Raja said that in the context of debt relief the multilateral donor agencies had also accepted suggestions for further democratisation of their structure, specifically in terms of the number of shares held by LDCs.
He noted that on Monday he would be making a statement on behalf of LDCs to Committee II of the UN General Assembly, and in this context he was leading one of the many unofficial delegations engaged in discussions at the UN.
