The following is a transcript of an interview conducted by Chrystia Freeland and Edward Luce of the Financial Times with former US president Bill Clinton at the Sheraton and Tower Hotel in New York, where the three day conference of the Clinton Global Initiative is taking place.

The interview began informally with talk about a recent New Yorker cover story on President Clinton in which Chelsea Clinton, Mr Clinton’s daughter, was quoted as having awarded her father a C plus for what his administration achieved on tackling HIV-Aids around the world: