§ Lord Hyltonasked Her Majesty's Government:
Which countries are currently in default or in arrears of interest on loans from the International Monetary Fund (IMF) or World Bank.
§ Lord Mackay of ArdbrecknishAs of 15th February 1996, eight members of the International Monetary Fund (IMF) were one month or more overdue in settling their overdue financial obligations to the fund; these were Afghanistan, Equatorial Guinea, Iraq, Liberia, Serbia and Montenegro-Federal Republic Yugoslavia, Somalia, Sudan and Zaire. As of 3rd March 1996, nine members of the World Bank Group were in non-accrual status. These were Afghanistan, Bosnia-Herzegovina, Iraq, Liberia, Somalia, Sudan, Syrian Arab Republic, Federal Republic of Yugoslavia and Zaire. In addition, a further twelve had small, short-term arrears.
§ Lord Hyltonasked Her Majesty's Government:
What sums were owed to the International Monetary Fund (IMF) and World Bank in 1980, 1990 and at the most recent convenient date; whether these figures can be broken down by continents; and what amount is now owed by the 30 poorest countries.
§ Lord Mackay of ArdbrecknishThe sums owed to the International Monetary Fund and World Bank are set out in the tables below. As at 31st December 1995, the total amount owed to the IMF by the 33 members classified by the World Bank as severely-indebted low-income countries was SDR 4.7 billion. As at end-June 1995, the severely-indebted low-income countries owed US$7.2 billion to the International Bank for Reconstruction and Development (IBRD) and US$25.1 billion to the International Development Association (IDA).
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IMF credit and loans outstanding (SDR millions) December 1980 December 1990 December 1995 Africa 1,790 5,692 7,066 Asia and Australasia 2,637 3,609 4,847 Europe1 2,733 917 11,401 Middle East 305 154 350 Western Hemisphere 1,020 12,861 17,973 Total2 8,486 23,232 41,637 1Includes all credits to Russia. 2Components may not sum to total due to rounding.
World Bank: Loans outstanding $ million IBRD IDA FY1980 FY1990 FY1995 FY1980 FY1990 FY1995 Sub-Saharan Africa 3,228 8,598 8,639 2,329 14,027 27,980 East Asia and Pacific 5,674 21,369 32,274 803 4,045 8,925 South Asia 1,436 8,784 14,686 6,600 20,502 30,273 Latin America and Caribbean 8,707 31,996 39,365 395 998 2,187 Middle East and North Africa 2,744 7,687 11,210 707 1,774 2,175 Europe and Central Asia 4,242 9,704 16,381 190 159 484 Total 26,032 88,138 122,555 11,024 41,505 72,024 All the fiscal years above run to end-June.
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