§ Mr. WallaceTo ask the Chancellor of the Exchequer if he intends to take any further initiatives to assist the debt problems of less-developed countries.
§ Mr. LilleyThere is now a widespread support internationally for two of my right hon. Friend the Chancellor's proposals — that is, that aid loans be converted to grants and that longer grace and repayment periods be applied to rescheduled officially guaranteed debt for the poorest and most heavily indebted countries of sub-Saharan Africa. My right hon. Friend the Chancellor will continue to press for further support for his proposal to reduce interest rates on rescheduled official debts and for the proposal to enlarge the IMF's concessional structural adjustment facility.