§ Mr. WorthingtonTo ask the Secretary of State for Foreign and Commonwealth Affairs if he will support proposals at the world summit on social development that seek immediate implementation of the Trinidad terms proposal to reduce by two thirds the eligible debt stock of severely indebted low-income countries as a first step towards a comprehensive write-off of between 80 per cent. and 100 per cent. of the debt stock of those countries.
§ Mr. Baldry[holding answer 23 February 1995]: Implementation of Trinidad terms was agreed by the Paris Club in principle in December 1994. We pressed for an increase from 50 per cent. up to 80 per cent. debt reduction, but there was no consensus among other creditors to go beyond 67 per cent.
347WWe welcome agreement by the Paris Club on 20 February to extend these terms to Uganda. I am delighted that that Commonwealth country is the first to benefit from my right hon. Friend the Prime Minister's initiative.