The ministers, in their seven-page joint communique, called on "international financial institutions to accelerate the implementation of the `Heavily Indebted Poor Countries' (HIPC) initiative to meet Mauritius Mandate targets" adopted at their meeting in 1997 there.

The Mauritius Mandate seeks to enable all HIPC countries to have embarked by 2000, a process of securing a sustainable exit from their debt problems. The ministers called for the extension of the HIPC initiative beyond December 1999 and agreed that they should ensure that the IMF and the World Bank move rapidly to address the special needs of poor post-conflict countries and secure a comprehensive review of the HIPC Initiative as soon as possible to ensure that the initiative provides for a lasting exitfrom unsustainable debt burdens.

With regard to elimination of corruption, the ministers emphasised the need to develop action-oriented and balanced proposals for combatting corruption at national and international levels.

They suggested all countries should adopt `zero-tolerance' for corruption. That could be a daunting task for many countries, including India, as corruption is rampant in most countries, some observers said. In their communique, the ministers agreed that the promotion of good governance in economic management was critical for combatting corruption. They agreed that effective anti-corruption strategies should incorporate systemic reforms and encompass both the public and private sectors.

The ministers recommended that each country endeavour to develop its own national good governance strategy with the main focus on the elimination of corruption and that progress on actions taken be reported to Commonwealth finance ministers and Commonwealth heads of government next year.

The view isthat the increasing globalisation of corruption required national measures to be supplemented by international action. Their suggestion was the review of aid policies to avoid any contribution to corruption, with particular reference to tied-aid and suppliers' credits.

According to the finance ministers, the arms trade was also liable to corrupt practices. The ministers also discussed the code of good practice on social policy, development cooperation activities and resources development. Sinha left for Washington on Thursday to attend the annual meetings of the World Bank and IMF. Before leaving, he met Commonwealth Secretary-General Emeka Amyaoku and South African finance minister Trevor Manuel.