§ 38. Mr. Hooleyasked the Minister for Overseas Development what policies he is adopting to alleviate the debt problems of developing countries hardest hit by the current economic crisis.
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§ Mr. PrenticeWe are ready to consider, with other creditor countries, the debt problems of developing countries on a case by case basis. We have in the last two years joined in multilateral debt relief schemes for India, Pakistan, Bangladesh and Ghana, which are amongst the most heavily indebted of the group of countries designated by the United Nations as most seriously affected by the rise in oil and other commodity prices.
We have also decided that our future Government-to-Government aid to the poorest countries, which include most of these countries, will normally be provided on grant terms.