HC Deb 13 March 1984 vol 56 cc112-3W
Mr. Marland

asked the Secretary of State for Foreign and Commonwealth Affairs what steps he is taking to seek release of money owed to British companies which are being blocked by the central bank in Zambia.

Mr. Rifkind

Exchange controls are a matter for the Zambian Government. We have frequently pointed out to them the difficulties that the controls are causing British companies and urged that the problem be resolved as speedily as possible. In accordance with the assurances given by President Kaunda during his state visit last year and with Zambia's standby arrangement with the International Monetary Fund, the Zambian Government have initiated phased repayment on a chronological basis over a number of years.

Mr. Marland

asked the Secretary of State for Foreign and Commonwealth Affairs what steps he is taking to seek release of money owed to British companies which are being blocked by the central bank in Tanzania.

Mr. Rifkind

We have made regular representations to the Tanzanian authorities on behalf of a number of British companies and individuals; I myself emphasised concern when I visited Tanzania last summer.

Mr: Marland

asked the Secretary of State for Foreign and Commonwealth Affairs what steps he is taking to seek release of money owed to British companies which are being blocked by the central bank in Sierra Leone.

Mr. Rifkind

Delays in remittances are common to all companies of whatever national origin trading with Sierra Leone because of that country's acute shortage of foreign exchange. The Sierra Leone Government are well aware of our general concern at this problem. I emphasised this concern once again when I was in Sierra Leone earlier this month. But we have made specific representations to the Sierra Leone Government only where blocked remittances have resulted in the breach of an international agreement.

Mr. Marland

asked the Secretary of State for Foreign and Commonwealth Affairs what steps he is taking to seek release of money owed to British companies which are being blocked by the central bank in Nigeria.

Mr. Rifkind

We have made representations about the position of creditors not insured wih ECGD. My right hon. Friend the Member for Blaby (Mr. Lawson) raised this point when the Nigerian Finance Minister and the governor of the Nigerian central bank visited London last month. The Nigerians took careful note of our representations and said that they will take our views into account.

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