§ Mr. StreeterTo ask the Secretary of State for International Development if she will list the progress made at the recent G8 summit in Birmingham in relation to the redemption of debt of developing countries; and if she will make a statement. [44993]
§ Clare ShortAt the G8 Summit in Birmingham on 15–17 May, we made useful progress in speeding up the implementation of the Heavily Indebted Poor Countries (HIPC) debt Initiative. The Communiqué set out the objective of getting all those countries which need debt relief under the Initiative, likely to be around 20 in number, into the process by the year 2000. This constitutes a significant step towards meeting the aims of the Government's Mauritius Mandate. And following a British initiative, the Summit also agreed on the need to look at ways of providing more and earlier debt relief to help heavily indebted post-conflict countries. We shall be pressing in all appropriate forums for the implementation of these targets.