§ 19. Mr. HoyleTo ask the Secretary of State for International Development if she will make a statement on the progress of the revised Heavily Indebted Poor Countries initiative. [127756]
§ Clare ShortSo far, only six countries have qualified for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) initiative. A further three are expected to do so later this month. But it is disappointing that so few have reached their decision points. Some countries who could benefit from HIPC debt relief are involved in war and civil strife, or have failed to demonstrate their commitment to tackling poverty. At the spring meetings of the World bank and the IMF in April, the Government's proposal to establish a joint World bank/IMF committee to oversee the implementation process was agreed. The committee has begun its work and should provide a focus for efforts to meet the target that three quarters of eligible countries start to receive debt relief before the end of 2000.