Third-world Debt

HC Deb 04 April 2000 vol 347 c460W

Mr. Wigley

To ask the Chancellor of the Exchequer what progress the Government have made to date with regard to relieving Third-World debt; and what further initiatives the UK plans to take to help tackle the remaining significant debt problem. [117685]

Miss Melanie Johnson

The Government are providing 100 per cent. relief on the debts of those countries (Bolivia, Mauritania and Uganda) that have already reached decision point under the Heavily Indebted Poor Countries (HIPC) initiative. Mozambique is also receiving 100 per cent. relief on the debts it owes to ECGD, in advance of its reaching decision point under the HIPC initiative. This is to aid the country in its reconstruction efforts after the disastrous effects of the floods.

The UK is pressing for swift and successful implementation of the existing debt relief package, which will reduce the debts of the poorest countries by $100 billion.