HC Deb 20 April 1994 vol 241 cc516-7W
Mr. Tom Clarke

To ask the Chancellor of the Exchequer if he will list the countries which have benefited to date from the Trinidad terms; if he will specify for each of these countries how much debt has been written off in total, and how much has been written off by the United Kingdom; if he will list the countries which will be coming up for debt relief under the Trinidad terms in the near future; and if he will indicate which countries have started negotiating the second stage of their Trinidad terms agreement.

Mr. Nelson

To date, 22 countries have benefited from a reduction in the burden of their official bilateral debt under Trinidad terms. They are: Benin, Bolivia, Burkina Faso, Central African Republic, Cote D'Ivoire, Ethiopia, Equatorial Guinea, Guinea Republic, Guyana, Honduras, Mali, Mauritania, Mozambique, Nicaragua, Niger, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Vietnam and Zambia.

Figures for the debts owed to individual creditors, or the debts cancelled for any individual country are confidential. We cannot publish these figures without the consent of the authorities in both the debtor and creditor countries. But in total, it is estimated that over the lifetime of these agreements over $71/: billion of debt will be restructured and around $23/4 billion will be forgiven. The United Kingdom's share of the debt and debt service forgiven is estimated to be over $200 million. However, such estimates are liable to revision since, for several of the debtor countries, discussions over the detailed terms are still underway.

The merits of all future requests for debt rescheduling will be considered by the Paris Club creditors on a case by case basis. Thus it is not possible to say which countries might obtain debt relief under Trinidad terms in the future. As yet, no countries have begun negotiating for reductions of their stock of official bilateral debts with the Paris Club.