§ Mr. Llew SmithTo ask the President of the Board of Trade if he will list for each year since 1985–86 the proportions attributable to awards to Iraq of(a) the amount in default and (b) the amount written off relating to export credit guarantees. [16005]
§ Mr. Nelson[holding answer 19 February 1996]: The information is as follows:
Claims paid and amounts written off by ECGD on Iraq by financial year from 1985–86: £ million Year Claims paid Amounts written off 1985–86 3 0 1986–87 4 0 1987–88 6 0 1988–89 28 4 1989–90 56 0 1990–91 193 0 1991–92 181 0 1992–93 104 0 1993–94 61 0 1994–95 46 3 1995–961 14 2 Total 696 9 1 To 31 January. The above table reports all claims paid by the ECGD on Iraq. For this reason, the total of £696 million is higher than the claims figure of £683 million which I cited in my written reply to the hon. Member for Oldham, West (Mr. Meacher) on 15 January 1996, Official Report, columns 353–54. The latter figure excluded claims cases under the ECGD's now privatised credit insurance operations where the debt has been recovered in its entirety. All such cases predate the invasion of Kuwait in August 1990.