Heavily Indebted Poor Countries Initiative

HC Deb 03 February 1998 vol 305 c573W

Dr. Tonge

To ask the Chancellor of the Exchequer if he will make a statement on progress to date in implementing the Highly Indebted Poor Countries Initiative. [27170]

Mrs. Liddell

The Executive Boards of the International Monetary Fund and the World Bank have reached decisions on the timing and scale of relief for four countries under the Heavily Indebted Poor Countries Initiative. Uganda will be provided with relief in April this year. Bolivia will benefit in September, and Guyana will be the third beneficiary in December. Agreement has also been reached that Burkina Faso will be granted HIPC relief in April 2000 if it too continues with its IMF-backed economic reform programmes. Decisions by the Boards in favour of granting HIPC relief to Mozambique, Cote d'Ivoire, Mali and Mauritania are expected to be made soon.