US Presidency
2011

America's support for democracy will therefore be based on ensuring financial stability, promoting reform, and integrating competitive markets with each other and the global economy. And we're going to start with Tunisia and Egypt. First, we've asked the World Bank and the International Monetary Fund to present a plan at next week's G8 summit for what needs to be done to stabilize and modernize the economies of Tunisia and Egypt. Together, we must help them recover from the disruptions of their democratic upheaval, and support the governments that will be elected later this year. And we are urging other countries to help Egypt and Tunisia meet its near-term financial needs. Second, we do not want a democratic Egypt to be saddled by the debts of its past. So we will relieve a democratic Egypt of up to $ 1 billion in debt, and work with our Egyptian partners to invest these resources to foster growth and entrepreneurship.