§ Mr. GardinerTo ask the Chancellor of the Exchequer pursuant to his answer of 4 June 2003,Official Report, column 429W, what options the UK Government are exploring to address the issue of creditor litigation and improve the legal defence offered to heavily indebted countries. [119209]
§ John HealeyAs stated in my answer of 4 June 2003, the UK believes that an adequate HIPC legal defence is essential in reaching fair and equitable settlements with some creditors. The UK is exploring options to address the issue of creditor litigation with other donors and the staffs of the World bank and IMF.
At the recent Evian Summit, the G8 agreed to ask the IMF and World bank to intensify their efforts to secure the participation of all creditors, and to explore further options to deal with the issues of creditor litigation. The Chair's summary and further information on summit outcomes can be found at: http://www.g8.fr.Evian