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Mr. Ben Chapman: To ask The Chancellor of the Exchequer, what discussions he held with international Finance Ministers on tacklingworld debt at the spring meetings of the IMF and World Bank. [172725]John Healey: At the spring meetings of the IMF and World Bank, the chancellor had various discussions with finance ministers. inaddition to continuing to support countries initiative, it was recognised that there was an urgent need to support countries as theyemerge from conflict and progress towards participation in the initiative.It was also recognised that it was important to take forward work on the debt sustainability framework that the IMF and world bankhave proposed, in order to support long-term debt sustainability for poor countries.However, debt relief alone is not sufficient. all HIPC countries will need additional aid to meet the millennium development goals(MDGS). that is why the UK's proposal for an international finance facility is so important. it can provide the much-neededsubstantial increase in resources--in the form of grants, concessional loans, or further debt relief--needed to attain the MDGS. |