§ Mr. Cameron
To ask the Secretary of State for International Development what progress has been made in writing off debt for Malawi; and if she will make a statement. 36W
§ Clare Short
Malawi is currently eligible for interim debt relief under the Enhanced HIPC (Heavily Indebted Poor Countries) Initiative amounting to some US$91.4 million in total. Relief in 2001 was about $27 million and is estimated at about $50 million (including Japan) for 2002. This relief should be used for increased spending on health, education, and other social priorities. Subject to satisfactory performance, Malawi is scheduled to reach its HIPC Completion Point in the second half of 2003. At this stage, all of Malawi's eligible debt under the initiative will be irrevocably cancelled.