§ Mr. CousinsTo ask the President of the Board of Trade what is the present remaining exposure on Export Credits Guarantee Department cover on exports to Iraq prior to August 1990.
§ Mr. NeedhamECGD's exposure on Iraq as at the end of June 1994 is £652 million.
§ Mr. CousinsTo ask the President of the Board of Trade what was the outstanding exposure of Export Credits Guarantee Department cover on exports to Iraq in August 1990; and what claims were paid or offsetting revenue achieved, by the end of March in 1991 and by the same date in each succeeding year.
§ Mr. NeedhamECGD's estimate of its exposure on Iraq as at the end of each of the last four financial year ends is as follows:522W
Year Unrecovered claims £ million Estimate of claims to be £ million Total exposure £ million March 1991 205 543 748 March 1992 392 296 688 March 1993 492 160 652 March 1994 555 97 652 The figures as at March 1994 remain provisional pending publication of ECGD's trading accounts for the 1993–4 financial year.
Comparative data are not available for the position at August 1990 but exposure then was estimated at f1.1 billion, including £103 million of unrecovered claims.