§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer how many countries have had their official debt to the United Kingdom written off.
§ Mr. Nelson[holding answer 22 March 1993]: Thirty-eight countries have received some form of official bilateral debt or debt service reduction from the United Kingdom Government. Twenty-three countries have received retrospective terms adjustment from the Overseas Development Administration entirely transforming old aid loans into grants. The Export Credits Guarantee Department has participated in debt restructurings on Toronto terms with 18 countries involving debt or debt service forgiveness equivalent to a one-third reduction in the present value of eligible debt, and restructurings on Trinidad terms with 13 countries involving debt or debt service forgiveness equivalent to one half reduction in the present value of eligible debt. In addition, two exceptional debt restructurings have been agreed with Poland and Egypt which reduce the present value of the stock of these countries eligible by 50 per cent. The details are set out in the table.