§ 53. Mr. Geraint Howellsasked the Chancellor of the Exchequer if he has any plans to seek to reschedule the debts of African countries; and if he will make a statement.
§ Mr. Ian StewartAs part of our approach to debt problems of developing countries, Her Majesty's Government have been ready, within the Paris Club, to reschedule official or officially guaranteed debts in appropriate cases. Since 1982 such reschedulings have covered some $8 billion of debt in respect of 18 African countries. For the poorest developing countries, Britain also has a generous policy of commuting official aid loans to grants. This has so far benefited 21 countries, including 12 in sub-Saharan Africa, at a total cost of almost £1 billion.