Early day motion tabled by primary sponsor Jim Lester (Conservative), on Wednesday, 2 February 1994, in the House of Commons. It is signed by 59 members in total.

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UGANDAN DEBT

That this House acknowledges that the Ugandan Government has taken all possible steps to reduce its debt burden; notes that Uganda is still left with an unpayable foreign debt of $2.6 billion, with repayments currently draining the country of $100 million annually; further notes that 70 per cent. of Uganda's debt is owed to multilateral agencies such as the World Bank and the International Monetary Fund, which cannot be rescheduled under existing rules; recognises that Uganda's moves towards democracy and economic recovery are in danger of being undermined by the burden of debt; and calls on the Government firstly to urge the International Monetary Fund to sell its redundant gold stocks in order to write off debts owed to the fund by Uganda and other sub-Saharan African countries and secondly to seek international agreement to establish a debt relief fund to help Uganda meet its immediate repayment obligations.

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Secondary information

Type

Early day motion

Reference

514 

Session

1993-94

Subjects

Debts Debt rescheduling International Monetary Fund World Bank Uganda

Link

View this Early day motion on www.parliament.uk