§ 19. Mr. BluntTo ask the Secretary of State for International Development if she will make a statement on the provision of debt relief to the poorest countries. [46884]
§ Clare ShortDebt relief can play an important part in the eradication of poverty in the poorest countries. The Government's Mauritius Mandate, launched last208W September, presses for the speedy and flexible implementation of the Heavily Indebted Poor Countries (HIPC) debt Initiative. But debt relief on its own will not lead to the attainment of international development targets. It must be accompanied by a commitment to the pursuit of economic and social policies which favour the poor, and root out corruption and the mismanagement of resources. In such cases debt cancellation and increased resource flows from donors and the private sector will lead to sustainable development and the reduction of poverty.
§ 23. Sir Sydney ChapmanTo ask the Secretary of State for International Development what is her estimate of the progress that will have been made on debt reduction of the poorest countries by 1 January 2000. [46888]
§ Clare ShortThe Mauritius Mandate, launched last September by my right hon. Friend the Chancellor of the Exchequer, sets out the Government's aims for progress under the Heavily Indebted Poor Countries (HIPC) debt Initiative. By the year 2000, we expect all countries eligible for debt relief under the Initiative to at least have embarked on the process that will lead to debt relief by putting in place the necessary policy measures. This aim was endorsed by G8 leaders at their recent Summit in Birmingham.