§ John BarrettTo ask the Secretary of State for International Development how much debt has been repaid by(a) Malawi, (b) Mozambique and (c) Zambia under the HIPC initiative so far this year. [75055]
§ Clare ShortMalawi, Mozambique and Zambia have all qualified for debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative. Both Malawi and Zambia have reached their Decision Point and are already receiving interim debt relief. Malawi's estimated debt service payments for the first six months of 2002 is US$35.5 million, and Zambia's foreign debt service was US$24 million in the first four months of 2002. Mozambique has completed the HIPC process and is receiving full debt relief. In 2002, Mozambique is scheduled to pay US$56 million in debt service. Following debt relief, resources are being freed up for social expenditure to reduce poverty in these countries.