For Immediate Release
Office of the Press Secretary
January 13, 2004
Fact Sheet
U.S. Accomplishments at the Special Summit of the Americas
"two Years Ago in This City, World Leaders Formed the Monterrey Consensus.
We pledged to work for government that is responsive to the basic needs
of every human being...and for policies that promote opportunity for
all...To realize our common vision, we must set goals that are specific
and measurable. In doing so, we will affirm our determination to
succeed and give hope to millions. Together we will implement the
Monterrey Consensus, lift all of our nations, and show the world that
free societies and free markets can deliver real benefits for all of
our citizens."
President George W. Bush January 12, 2004 Monterrey, Mexico
Presidential Action
President Bush came to the Summit to urge Leaders to strengthen the
foundations for democracy and economic growth in the hemisphere by
taking action to promote democracy and good governance, to spur private
sector-led growth and reduce poverty, and to improve health and
education.
To intensify the fight against corruption, Leaders agreed to:
Strengthen a "culture of transparency" in the Americas; Deny safe
haven to corrupt officials; Promote transparency in public
financial management; and Hold consultations if adherence to their
transparency and anti-corruption objectives is "compromised to a
serious degree" in any Summit country.
To spur growth and reduce poverty, Leaders agreed to:
Reduce significantly the time and cost of starting a business by
the next Summit in 2005;
Endorse the Inter-American Development Bank's goal of tripling the
credit it provides for small and medium-sized businesses by 2007;
Cut by at least half the cost of sending remittances by 2008;
Strengthen property rights by the next Summit in 2005; and
Reaffirm support for completing the Free Trade Area of the
Americas on schedule, by January 2005.
To improve health and education, Leaders agreed to:
Provide HIV/AIDS antiretroviral therapy to all who need it, with a
focus on treating at least 600,000 individuals by 2005; and
Improve the quality of education by publishing school system
performance reports by the 2005 Summit.
FIGHTING CORRUPTION
Anticorruption and Transparency: The World Bank has identified
corruption as "the single greatest obstacle to economic and social
development," cutting growth rates by 0.5 to 1 percent annually.
Recognizing that transparency is an essential element of
well-functioning democracies and market economies, the Leaders, at U.S.
urging, committed to:
Strengthen a "culture of transparency" in the Americas; "Deny safe
haven to corrupt officials, those who corrupt them, and their
assets"; and
Promote transparency in "public financial management, in
government transactions and procurement processes and contracts."
In a significant step, Summit Leaders agreed to hold consultations
if adherence to their shared transparency and anticorruption
objectives, as articulated in the Inter-American Convention Against
Corruption, is "compromised to a serious degree" in any of the Summit
countries. Reflecting the fact that transparency is integral to
democracy, this new commitment parallels an existing commitment to hold
consultations in the event of a breakdown of the democratic process in
any Summit country.
Today's commitments advance President Bush's efforts to implement a
robust international transparency and anticorruption agenda.
Specifically, he has:
Signed a Presidential Proclamation to bar corrupt officials from
entering the United States;
Agreed to return to Peru over $20 million that had been hidden in
the United States by former Peruvian intelligence chief Montesinos
and his associates. Montesinos is now serving a jail sentence in Peru
for his crimes, including corruption;
Approved assistance for a pilot project in Nicaragua to strengthen
its law enforcement capacity and promote civil society involvement in
anti-corruption efforts;
Conditioned Millennium Challenge Account eligibility on a
demonstrated commitment to fight corruption; and
Obtained strong transparency and anti-corruption commitments at
last year's G-8 and APEC Summits.
SPURRING PRIVATE SECTOR-LED GROWTH
Reducing the time and cost of starting a business: Starting a
business in the Western Hemisphere takes longer than in any region in
the world. Recognizing that small and medium-sized businesses are the
primary engines of economic growth and job creation, at U.S. urging,
Leaders agreed to "reduce significantly" the time and cost of starting
a business by the next Summit of the Americas in 2005.
Increasing access to credit for small and medium-sized businesses:
Lack of credit is a serious obstacle to business formation and growth.
The Leaders supported the Inter-American Development Bank's goal of
tripling the credit it provides for small and medium-sized businesses
through local banking systems by 2007.
Lowering the cost of remittances: Remittances, the money sent by
migrants to their families and friends living abroad, have tripled in
the last six years and totaled more than $32 billion in the Western
Hemisphere in 2002 -- more than four times official development
assistance flows to the region. Yet, the region is losing
approximately $4 billion a year due to high remittance transfer fees,
averaging 12.5 percent. Leaders committed to creating the conditions
to cut by at least half the cost of remittance transfers by 2008.
Securing Property Rights: A fair and well functioning property
rights system is the foundation for a market economy. Currently,
approximately half of all property in some of the region's countries is
not officially recorded. Leaders agreed to:
Ensure "enforceable, efficient, transparent, comprehensive and
equitable rules governing property contracts;"
Improve or promote policies and regulations governing "the
transfer of property, property registries, the use of property as
collateral, and the rights and responsibilities of debtors and
creditors;" and
Take "concrete actions" regarding these measures by the next
Summit of the Americas in Argentina in 2005.
Promoting Financial Stability: Leaders committed to continue
working to promote macroeconomic stability and reduce financial
vulnerability. They noted with satisfaction efforts to explore
financial instruments, such as growth-indexed bonds, which can minimize
the vulnerability of developing countries to economic shocks and
downturns. Growth-indexed bonds would allow governments to pay smaller
amounts of interest if growth is below expectations and would pay more
when growth is exceeding expectations.
Expanding Trade: President Bush and the other Leaders welcomed
recent progress made on the Free Trade Area of the Americas (FTAA) at
the November, 2003 FTAA Ministerial in Miami, endorsed the Miami
framework, and reaffirmed the agreed timetable of completing
negotiations by January 2005. The FTAA will establish the world's
largest free trade area -- with 34 countries, almost 800 million
consumers, and a $13 trillion GDP. The Leaders also reaffirmed their
shared interest in advancing the World Trade Organization's Doha
negotiations.
The President's goal for free and fair trade throughout the
hemisphere is reinforced by complementary bilateral and subregional
free trade agreement (FTA) negotiations:
Our free trade agreement with Chile entered into force on January
1, 2004.
The Administration recently concluded FTA negotiations with El
Salvador, Guatemala, Honduras, and Nicaragua, and is working to
complete agreement with Costa Rica.
This past fall, the Administration announced its intent to begin
FTA negotiations with the Dominican Republic,
Panama, and four Andean countries -- Colombia, Peru, Ecuador, and
Bolivia. These in-process FTAs, combined with those already in
effect (i.e., Canada, Mexico, and Chile), will cover 68 percent of the
GDP of America's neighbors.
IMPROVING HEALTH AND EDUCATION
HIV/AIDS: More than two million people are now living with HIV in
Latin America and the Caribbean, including the estimated 200,000 that
contracted HIV in the past year. The Leaders agreed to intensify
prevention, care and treatment programs and committed to provide
antiretroviral therapy to all who need it, with a focus on treating at
least 600,000 individuals by 2005.
President Bush has led international efforts to fight the HIV/AIDS
epidemic and has tripled U.S. spending on HIV/AIDS:
The President's $15 billion Emergency Plan for AIDS Relief targets
the most afflicted countries: Guyana and Haiti in the Western
Hemisphere, and 12 countries in Africa.
In June 2003, President Bush and Brazil's President Lula da Silva
launched a joint venture to improve HIV/AIDS treatment, care, and
prevention in Portuguese-speaking Africa.
Education: Leaders agreed on the urgent need to reform school
systems in Latin America. Almost half of the students in the region
who enter primary school fail to reach fifth grade, and only about 30
percent finish secondary school. On international achievement tests,
the best school systems in the region fall in the bottom quartile.
Leaders committed to improve accountability in education, including
by publishing performance assessments of their educational systems by
the next Summit of the Americas. To support this effort, the United
States will:
Provide assistance to develop ten model Educational Performance
Reports in the Western Hemisphere, focusing on Venezuela, Peru,
Nicaragua, the Dominican Republic, Honduras, Guatemala, El Salvador,
Colombia, and regional reports on Central America and the Hemisphere as
a whole.
Continue supporting education programs in the region. The United
States invested $53 million in education programs in the region last
year.
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