§ Lord Juddasked Her Majesty's Government:
Whether, in view of the budget deficit and the debt burden inherited by the new government in Guyana, the Trinidad terms on debt repayments will be extended to that country.
§ Baroness Chalker of WallaseyThe Government are well aware of the heavy burden of debt borne by Guyana. We are also aware of the impressive commitment to economic reform demonstrated by the new government. Providing that this commitment is sustained, we will press for Guyana to receive Trinidad terms when its current Paris Club agreement expires in July. Guyana is already a beneficiary of the UK's earlier Toronto terms initiative, and recently reached a debt reduction agreement with the commercial banks through the World Bank's debt reduction facility.