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Written question asked by Ben Maguire (Liberal Democrat) on Wednesday, 16 July 2025, in the House of Commons. It was due for an answer on Monday, 21 July 2025. It was answered by Emma Reynolds (Labour) on Wednesday, 23 July 2025 on behalf of the Treasury.

Developing Countries: Debts

Question

To ask the Chancellor of the Exchequer, whether her Department plans to work with (a) The Catholic Agency for Overseas Development and (b) other relevant charities to help reduce the high interest public debt owed by certain developing countries.

Answer

The UK is concerned by impacts of the high debt servicing costs faced by developing countries. We fully support the World Bank and IMF’s ‘three pillars’ approach to countries facing liquidity (i.e. short-term payment) challenges.

Enhanced transparency will be a focus of the London Coalition on Sustainable Sovereign Debt, which launched on 23rd June. As part of its wider objectives, the group will work with UK and global private creditors to develop a better understanding of the debt obligations owed by developing countries


UK Government officials engage with the Catholic Agency for Overseas Development and other relevant organisations on a regular basis and will continue to do so as we work to address the challenge of high-interest public debt in developing countries.



Secondary information

Type
Written question
Reference
68645
Session
2024-26
Grouped for answer
Yes
Transferred
Yes
Subjects
Debts Developing countries International assistance Catholic Agency for Overseas Development
Link
View this Written question on www.parliament.uk