§ 16. Ms Christine RussellTo ask the Chancellor of the Exchequer if he will make a statement on recent progress in relieving the burden of debt in the world's poorest countries. [3338]
§ Mr. Gordon BrownThe HIPC debt relief initiative is currently delivering debt relief of $53 billion to 23 of the World's poorest countries. This will see their debts fall to below the developing country average. The UK's 100 per cent. policy means that countries that reach a decision point receive relief on 100 per cent. of their outstanding debts to the UK. In addition, all payments from countries yet to receive debt relief—for example due374W to conflict—are being held in trust to be returned when the money will go to the poorest, and not on conflict. The UK has called for other countries to follow its lead and demonstrate they too have no financial interest in these historic debts.
§ 28. Mrs. Betty WilliamsTo ask the Chancellor of the Exchequer if he will make a statement on the UK's contribution to international efforts to relieve the debt burden of the world's most indebted countries. [3351]
§ Mr. BoatengThe HIPC debt relief initiative is currently delivering debt relief of $53 billion to 23 of the World's poorest countries. This will see their debts fall to below the developing country average. The UK's 100 per cent. policy means that countries that reach a decision point receive relief on 100 per cent. of their outstanding debts to the UK. In addition, all payments from countries yet to receive debt relief—for example due to conflict—are being held in trust to be returned when the money will go to the poorest, and not on conflict. The UK has called for other countries to follow its lead and demonstrate they too have no financial interest in these historic debts.