Written question asked by Andrew Love (Labour) on Tuesday, 18 December 2001, in the House of Commons. It was due for an answer on Thursday, 10 January 2002. It was answered by Nigel Griffiths (Labour) on Thursday, 10 January 2002 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for International Development, what was the value of debt and interest paid to the UK Government on trade credits to heavily indebted poor countries guaranteed by the UK Government in the last five years. - Includes figures.

Answer: Mr. Love: To ask the Secretary of State for International Development what was the value of debt and interest paid to the UK Government on trade credits to heavily indebted poor countries guaranteed by the UK Government in the last five years. [25239] Nigel Griffiths: I have been asked to reply. During the period from 1 January 1997 to December 2001 £57 million of principal and £68 million of interest was paid by heavily indebted poor countries under bilateral debt agreements resulting from defaulted trade credits. All but £10 million was received from only eight countries--Ghana, Kenya, Yemen, Tanzania, Cameroon, Zambia, Guyana and Bolivia. Under the HIPC Initiative and the Government's 100 per cent. forgiveness policy no further payments are expected from the last five of these countries. Kenya and Yemen are deemed to have sustainable debt levels and Ghana is currently applying for HIPC debt relief.

Secondary information

Type: Written question
Reference: 377 c994W;377 c996W; 25239
Session: 2001-02
Subjects: Debts Credit Developing countries Debts written off Interest charges Heavily indebted poor countries initiative Poverty Trade
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk