Mr. Speaker, this was indeed a landmark decision taken by the G-7, the IMF, the World Bank and the creditor nations of the Paris Club. As a result, some $5 billion to $7 billion of debt of the poorest of the poor countries in the world will be forgiven and they will be put in a position where they can put their existing debt on a sustainable basis.
We should not discuss this in terms of the arid numbers on a sheet of paper. We should realize that as a result of this, millions of children who otherwise would not get vaccinated will receive vaccinations. As a result of this, children who would otherwise not
have a chance to learn to read and write will get school books. As a result of this, food will be put on their tables and decent hospitalization will be provided.
The reason that this Canadian initiative, among others, has taken hold is because this nation understands that we are one world and we must take care of each other.