§ Mr. TimmsTo ask the Chancellor of the Exchequer how much in debt service is expected to be paid by Mozambique, in US dollars, in each year from 1998 to 2002, following the recent agreement under the HIPC initiative, according to(a) the HIPC final document, and (b) the latest estimates. [41207]
§ Mrs. Liddell[holding answer 8 May 1998]The HIPC Final document produced by the IMF does not give figures of debt service after full debt relief under the HIPC initiative.
The latest estimates of the debt service that Mozambique will have to pay after receiving debt relief under the HIPC initiative are:
Year Debt service $ million 1998 124 1999 147 2000 97 2001 101 2002 97 Debt relief under the HIPC initiative will reduce Mozambique's stock of debt by $1,487 million in Net Present Value terms. Without this debt relief, Mozambique would have been due to pay an average of over $450 million a year in debt service over this period.
§ Mr. TimmsTo ask the Chancellor of the Exchequer how much was paid in debt service by Mozambique, in US dollars, in each year from 1995 to 1997. [41206]
§ Mrs. Liddell[holding answer 8 May 1998]The debt service paid by Mozambique between 1995 and 1997 was:
Year Debt service paid $ million 1995 112 1996 131 1997 97 The debt service paid in these years was, however, only a fraction of the total debt service due, which was some $375 million a year.