§ 53. Mr. Tom ClarkeTo ask the Secretary of State for Foreign and Commonwealth Affairs what progress he can report on the Toronto package on sub-Saharan debt relief.
§ Mr. Chris PattenSeven countries have already benefited from concessional rescheduling at the Paris club. These countries are all implementing structural adjustment programmes supported by the IMF and the World Bank. We expect more to follow in the near future.
§ Mr. ClarkeThe Minister has not given the figures, but if the British contribution is in the region of £2.5 million does it not compare unfavourably with the global debts of $73 billion that sub-Saharan Africa faces? Given the colossal difference between our contribution and the debt owed, would it not make sense to write off that debt and to make a substantial contribution to multilateral projects, including the Nordic plan?
§ Mr. PattenAs I should have thought the hon. Gentleman would know, we have written off old aid loans in Africa to the tune of £275 million. The initial costs of the Toronto concessions will be small, but they will grow as the Paris club agrees on more reschedulings. The main purpose of those concessions is to reduce the capitalisation of interest that leads to an exponential growth in the stock of debt.
§ Mr. SayeedDoes my hon. Friend agree that those who doubt my hon. Friend's commitment to the destitute and the dying, thosewho have no chance of altering their circumstances, should have a look at a video recording of his excellent interview on HTV?
§ Mr. Campbell-SavoursIt is a pity that the Minister has not got any jobs to hand out.
§ Mr. PattenAll in good time. I would draw the attention of all corners, and the House, to HTV, were it not for the fact that I was appearing on BBC.
§ Mr. FoulkesNotwithstanding the Minister's unpublicised speeches, his television appearance and his ambition, will he admit that in the past 10 years bilateral aid to sub-Saharan Africa has been cut in real terms by a cumulative figure of £600 million, while commodity prices have plummeted and interest rates have soared? Does he agree that what is needed is a major international expansion based on a just, new international economic order? Does he accept that the problems of debt and poverty are not just technical matters but are also moral issues?
§ Mr. PattenI welcome the hon. Gentleman to his new responsibilities—demonstrating that none of us is entirely beyond ambition. We have spent £3 billion in sub-Saharan Africa through our aid programme since 1981. I am delighted, as I am sure the hon. Gentleman is, that our aid programme is growing again in real terms, and much of that growth will go to real-terms increases in sub-Saharan Africa.