§ Harry CohenTo ask the Chancellor of the Exchequer when he expects The London Club to deliver on its agreement to 65 per cent. debt reduction for Serbia and Montenegro; what has been the reason for the delay in doing so to date; what negotiations are still going on regarding this matter; what assessment he has made of whether this commitment will be fulfilled; what would be the implication of non-fulfilment of The London Club's commitment for debt relief upon that agreed by The Paris Club; and if he will make a statement. [135442]
§ John HealeyThe Government expects all creditors, including those creditor banks sometimes known as the "London Club", to agree a debt restructuring with Serbia and Montenegro comparable to that provided by the "Paris Cub" of official creditors in November 2001. The Government understands that negotiations 465W between the Serbia and Montenegro authorities and some creditors are continuing. We have made clear to the Serbian authorities that the UK Government supports the case for comparable treatment, although there are no UK banks among the leading private sector creditors.