§ Mr. LoveTo ask the Secretary of State for International Development what was the value of debt and interest paid to the UK Government on trade credits to heavily indebted poor countries guaranteed by the UK Government in the last five years. [25239]
§ Nigel GriffithsI have been asked to reply.
During the period from 1 January 1997 to December 2001 £57 million of principal and £68 million of interest was paid by heavily indebted poor countries under bilateral debt agreements resulting from defaulted trade credits.
All but £10 million was received from only eight countries—Ghana, Kenya, Yemen, Tanzania, Cameroon, Zambia, Guyana and Bolivia. Under the HIPC Initiative and the Government's 100 per cent. forgiveness policy no further payments are expected from the last five of these countries. Kenya and Yemen are deemed to have sustainable debt levels and Ghana is currently applying for HIPC debt relief.
§ Mr. LoveTo ask the Secretary of State for International Development what was the value of trade credits to heavily indebted poor countries guaranteed by the UK Government which were cancelled in each year since 1983. [25238]
§ Nigel GriffithsI have been asked to reply.
No such debts in relation to trade credits were cancelled between 1983 and 1990 inclusive. Amounts cancelled in each year since were as follows:
997W
Year £ million 1991 6.62 1992 17.80 1993 26.89 1994 8.76 1995 23.74 1996 180.69 1997 22.49 1998 33.04 1999 56.91 2000 48.13 2001 135.04 Total 560.11