HC Deb 02 July 1997 vol 297 cc176-7W
Mr. Stunell

To ask the Chancellor of the Exchequer what plans he has to secure a multi-national agreement on the cancellation or reduction of third world debt. [5850]

Mrs. Liddell

The Heavily Indebted Poor Countries (HIPC) Initiative to reduce the debt burdens of the poorest countries to sustainable levels was launched at the IMF and World Bank Annual Meetings last September. At the recent Summit of the Eight held at Denver, the other Finance Ministers followed my right hon. Friend the Chancellor of the Exchequer in calling for rapid implementation of this initiative. However, there is no room for complacency, and we shall continue to press for the international community to provide further debt relief.