Third-world Debt

HC Deb 20 July 2000 vol 354 c308W

19. Mrs. Betty Williams

To ask the Chancellor of the Exchequer if he will make a statement on the IMF's role in reducing the debts of third-world countries. [130147]

Miss Melanie Johnson

The IMF has committed to providing $2.3 billion of debt relief (in net present value terms) under the enhanced HIPC initiative. In the context of assisting countries to prepare their Poverty Reduction Strategies and ensuring progress on delivering the enhanced debt relief, the IMF will work together with the World bank and the HIPC countries themselves to ensure that the benefits of this debt relief go to reducing poverty.