§ Mr. StrangTo ask the Secretary of State for Foreign and Commonwealth Affairs if he will list the sources of funds and the amounts available to those countries whose economies are most likely to suffer as a result of the mandatory sanctions against Iraq.
§ Mr. WaldegraveFinancial support will be available from the IMF and World bank for countries seeking to adjust their economies to the effects of Iraq's invasion of Kuwait and the consequent application of UN sanctions against Iraq. For Egypt, Jordan and Turkey, the countries most directly affected, special efforts are being made within the framework of the recently established Gulf crisis financial co-ordination group. Contributions so far announced include 1.5 billion ecu ($2 billion) agreed by the EC and its member states, $2 billion from Japan, and substantial sums from Saudi Arabia, the UAE and Kuwait.
§ Mr. StrangTo ask the Secretary of State for Foreign and Commonwealth Affairs what information he has as to the impact of the United Nations sanctions upon the economy of Iraq.
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§ Mr. WaldegraveAvailable information indicates some deterioration in Iraq's industrial capacity. This is believed to be caused by increasing shortages of foreign-sourced parts, industrial raw materials, manpower and know-how. The shortage of spare parts seems likely to lead in the longer term to problems in the oil industry and refining sector. There are also strong indications that the financial freeze on Iraqi assets overseas is proving generally effective.
§ Mr. StrangTo ask the Secretary of State for Foreign and Commonwealth Affairs what is his current estimate of the number of(a) British hostages and (b) British nationals in (i) Iraq and (ii) Kuwait.
§ Mr. WaldegraveOur estimate of the number of British nationals held by the Iraqis at special sites is:
- Iraq 304
- Kuwait 72
Our estimate of the total number of British nationals (including those held at special sites) is:
- Iraq 800
- Kuwait 650
§ Mr. StrangTo ask the Secretary of State for Foreign and Commonwealth Affairs if he will list those countries whose economies are assessed to be most likely to suffer as a result of the mandatory sanctions against Iraq; and if he will make a statement.
§ Mr. WaldegraveThe economies of Egypt, Jordan and Turkey have been most directly affected by Iraq's invasion of Kuwait and the consequent application of United Nations sanctions against Iraq. The best way to help these and other countries damaged by the Gulf crisis is to bring an end to the Iraqi occupation of Kuwait and restore stability to the region.