§ Miss LestorTo ask the Chancellor of the Exchequer how much of the non-concessional debt owed to the international multilateral financial institutions by severely indebted low income countries has been cancelled or converted to International Development Association terms.
§ Mr. NelsonDebt owed to the international financial institutions is not cancelled. Under the International Development Association fifth dimension facility, complementary IDA credits, provided in proportion to interest payments due on outstanding IBRD debt, have helped ease the debt service burden of eligible IDA-only countries undertaking internationally supported economic reform programmes. I refer the hon. member to the answer which the Chancellor gave on 19 October to the hon. Member for Blaenau Gwent (Mr. Smith) for details of proposals that he made in Malta this year to help further reduce the burden of debt owed to the IFIs by the poorest, most indebted countries,Official Report, 19 October column 272.