§ Ms. Primarolo
To ask the Chancellor of the Exchequer what progress has been achieved in debts relief for sub-Saharan Africa following the recent annual meetings of the International Monetary Fund and the World Bank.
§ Mr. Lilley
The United Kingdom has already converted aid loans to grants for 14 sub-Saharan African countries at a cost of £280 million and other countries are following suit. To date, six African countries have been granted longer grace and repayment periods by the Paris Club. Discussions with other creditors on interest rate reductions on officially guaranteed rescheduled debt are continuing.