§ Mr. David EvansTo ask the Chancellor of the Exchequer if he will consider linking the availability of Government credits to the Commonwealth of Independent States to the amount of bad debt outstanding to British companies who have exported to the Commonwealth of Independent States; and if he will make a statement.
§ Mr. Nelson[holding answer 22 May 1992]: The Prime Minister announced at the time of President Yeltsin's visit to London in February that up to £280 million of medium-term export credit cover would be made available to the states of the former Soviet Union subject to certain conditions. One of these conditions was that the country concerned should have signed the memorandum of understanding of 28 October 1991, acknowledging joint and several liability for the debts of the former Soviet Union, including, of course, debts outstanding to British exporters. This condition will ensure that no new credit is given to any member of the CIS which does not accept liability for its obligations to British exporters. The Government lose no opportunity to remind its various interlocutors in the CIS of the importance of honouring these obligations.