§ Mr. ReedTo ask the Chancellor of the Exchequer what discussions he had at the G8 on the Paris Club debt relief ceiling of 80 per cent; and if he will make a statement. [90504]
§ Ms HewittThe Koln Summit agreed that the ceiling for debt write-down for Heavily Indebted Poor Countries (HIPCs) could be increased to 90 per cent. or more if needed in individual cases, with proportionate burden sharing between creditors.
§ Mr. ReedTo ask the Chancellor of the Exchequer what actions the Government intend to take to ensure that the Mauritius Mandate target for all eligible countries to have entered the highly indebted poor countries process will be met by 2000. [90506]
§ Ms HewittThe UK has made the Mauritius Mandate target a priority in discussions with fellow creditors and the IFIs. The Koln Summit called for the IFIs and the Paris Club to ensure that three quarters of eligible countries have reached their decision point by the year 2000, and to assist the very poorest countries to embark on the HIPC process as soon as possible.
§ Mr. ReedTo ask the Chancellor of the Exchequer what discussions there were at the G8 summit on reducing the maximum six-year track record requirement, which must be fulfilled in order to qualify for debt relief under the highly indebted poor countries initiative; and if he will press for an agreement amongst creditor nations to reduce the requirement to a maximum of three years. [90507]
§ Ms HewittThe Koln Summit agreed that the benefits of debt relief should be felt after a maximum of three years rather than the current maximum of six years, and earlier for those countries already in the system.