HC Deb 10 March 1988 vol 129 c315W
68. Mr. Skinner

To ask the Chancellor of the Exchequer if any further meetings are planned with other Finance Ministers regarding world debt; and if he will make a statement.

Mr. Lilley

I refer the hon. Member to the reply I gave on 11 February at column337.

74. Mr. Gerald Howarth

To ask the Chancellor of the Exchequer if he will make a further statement setting out the Government's policy on international debt.

102. Mr. Nicholas Baker

To ask the Chancellor of the Exchequer if he will make a further statement setting out the Government's policy on international debt.

Mr. Lilley

We are continuing to press the initiative which my right hon. Friend announced last spring for the poorest, most heavily-indebted countries by the easing of terms of official debt in the Paris club. In addition, we have agreed to make a large contribution, by way of subsidy, to the enhanced structural adjustment facility at the IMF.

We warmly welcome the recommended increase in the capital of the World Bank of US$74.8 billion which will enable it to increase its annual lending level from around $14 billion to $20 billion by 1992. This will benefit in particular the middle income debtors.