§ 75. Mr. Simon HughesTo ask the Secretary of State for Foreign and Commonwealth Affairs what discussions he has had with the chairman of the World Bank regarding the problem of international debt.
§ Mr. Chris PattenI refer the hon. Member to the answer I gave him on 1 February, at column 459.
§ 76. Mr. ChapmanTo ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on progress in implementing the debt initiative for the most debt-ridden countries, following the endorsement of that initiative at the Commonwealth Heads of Government meeting and by their finance Ministers.
§ Mr. Chris PattenMy right hon. Friend the Chancellor's initiative has been well received. Some aid donors have announced the write-off of more aid debt; the United Kingdom has already almost completed this process of converting aid loans into grants and others are following our example. Seven of the poorest, most heavily indebted sub-Saharan countries pursuing sound economic policies have had their official debts rescheduled for longer than normal by the Paris Club. We continue to press our partners to accept lower Paris Club interest rates for countries eligible for the initiative.