§ Mr. HoyleTo ask the Chancellor of the Exchequer what plans the Government have to write off the debt of Nicaragua with UK institutions. [68469]
§ Mrs. Roche[holding answer 1 February 1999]: The UK has written off all aid loans debt to Nicaragua. We have also pledged that Nicaragua need make no debt service payment to the UK over the next three years, at which time Nicaragua is expected to qualify for debt write off under the Heavily Indebted Poor Countries (HIPC) initiative.
§ Mr. HoyleTo ask the Chancellor of the Exchequer what financial assistance has been given to Nicaragua in the relief effort since Hurricane Mitch; and what assistance he will provide in the future. [68468]
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§ Mrs. Roche[holding answer 1 February 1999]: The UK has contributed £10 million to the trust fund set up by the International Financial Institutions for assistance to meet Nicaragua's multi-lateral debt service obligations and participated in an international debt relief package for Honduras and Nicaragua at the Paris Club, which will amount to over $100 million dollars of debt relief.