§ Mr. Harry GreenwayTo ask the Secretary of State for Foreign and Commonwealth Affairs what action his Department is proposing over the cancellation of third world debt; and if he will make a statement.
§ Mrs. ChalkerThe Government believe that, for those poorest countries whose efforts to achieve economic growth have been hampered by the heaviest debt burdens, debt relief has an important role to play. We were delighted to achieve Paris Club consensus in mid—December, when government creditors began to implement enhanced debt relief on Trinidad terms for the first time. This advance was a direct result of the proposals made by my right hon. Friend the Prime Minister, as Chancellor, in 1990. The United Kingdom will continue to push for full implementation, by all creditors, of the original Trinidad terms proposals which addressed the entire stock of a country's official debt and allowed for increased concessionality.