HC Deb 30 November 1999 vol 340 cc173-4W
Mr. Streeter

To ask the Chancellor of the Exchequer what plans he has to forgive the export credit guarantee debt of the world's poorest countries. [100053]

Miss Melanie Johnson

The terms of the deal agreed at the G7 Summit in Cologne and subsequently ratified by the IMF/World Bank Annual Meetings provides for the forgiveness of 90 per cent. or more of the commercial debts of 41 of the world's poorest countries. Since the Annual Meetings, the Government have said that they are prepared, on a case-by-case basis, where necessary, to go beyond 90 per cent., possibly up to 100 per cent. debt forgiveness where debt relief will finance poverty reduction.

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