Early day motion, on Wednesday, 26 November 2003, in the House of Commons. It is signed by 52 members in total.

---

IRAQI SOVEREIGN DEBT CANCELLATION

That this House notes that the creditor countries of the Paris Club estimate that Iraq's sovereign debt amounts to more than US$21 thousand million and, mindful that IMF rules regard debt of twice annual export income as unsustainable for HIPC countries, whereas Iraq's debt represents 10 times that country's projected export income for 2004, concludes that Iraq's debt is unsustainable; further welcomes and supports Jubilee Iraq's proposals for debt cancellation; applauds Her Majesty's Government and the US Government's support for the more generous Evian approach to debt forgiveness; and urges the four largest of the 19 Paris Club creditor countries, namely France, Germany, Japan and Russia, who between them lay claim to US$13 thousand million of the debts lent to support Saddam Hussein, to remember the benefit they received under the United States Marshall Plan and to be equally generous in their approach to debt cancellation in Iraq.

---

Secondary information

Type

Early day motion

Reference

138 

Session

2003-04

Subjects

Debts Debts written off Iraq

Link

View this Early day motion on edm.parliament.uk