§ Lord BARNBY
asked Her Majesty's Government:
With regard to the losses reported to have been incurred by the Export Credits Guarantee Department, what proportion fall within the category of credits to Governments and what proportion in the commercial field; further, in the case where overseas Governments are concerned and payments delayed, whether further distribution of any aid already arranged is being suspended until all commitments entered into with ECGD have been met.
§ Lord TREFGARNE
Claims paid by ECGD since 1st October 1979 are divided by value as follows:
It would not be appropriate to suspend aid to developing countries solely because they are unable to meet their ECGD guaranteed commitments, particularly since a large proportion of these claims are expected to be recovered especially in the last two categories.
- (a) default by private buyers—32 per cent.;
- (b) default by Government buyers—13 per cent.;
- (c) delays in transfer of exchange and other economic or political causes—55 per cent.