§ 19. Mr. ReedTo ask the Chancellor of the Exchequer what progress he has made in persuading the G8 to support his plans for further debt relief for the poorest countries. [179141]
§ John HealeyFurther cancellation of debt for the world's poorest countries was an important item of discussion at the recent G8 Summit in Sea Island.
The UK pressed for, and secured, G8 support for the extension of the HIPC initiative by another two years, potentially allowing another 10 countries to benefit from debt relief in excess of $30 billion.
Finance Ministers will report back by the end of the year on progress, and on further measures to ensure that the poorest countries have a sustainable exit from debt.