§ Mr. CousinsTo ask the President of the Board of Trade what rescheduling of payments on outstanding debts occurred in course of the British-Jordanian defence sales agreements; on what dates this occurred; and how this was reflected in public accounts.
§ Mr. NeedhamECGD-insured debts of £170 million due from Jordan have been rescheduled. These debts relate to payments of principal and interest due between 1989 and early 1994; a substantial proportion relates to the defence sales agreements. The debts are covered by two bilateral rescheduling agreements, the first signed in August 1991 and the second in January 1993. The reschedulings were concluded as part of general agreements reached between Jordan and its creditors in the Paris Club. To date payments under these agreements have been made on time.
The rescheduling of these debts is reflected in ECG D's annual trading accounts.