Written question asked by Lord Judd (Labour) on Tuesday, 21 April 2020, in the House of Lords. It was due for an answer on Tuesday, 5 May 2020. It was answered by Baroness Sugg (Conservative) on Monday, 4 May 2020 on behalf of the Department for International Development.

Developing Countries: Coronavirus

Question: To ask Her Majesty's Government what consideration they have given to granting an immediate, condition free moratorium on debt interest payments for developing countries in order to release resources for such countries to deal with COVID-19.

Answer: We are supporting the poorest countries, which represent a quarter of the world’s population, to avoid economic collapse. Economic disruption hits the world’s poor hardest and would deepen a global recession, making it harder for all of us to bounce back and prosper. The UK is providing up to £150 million of UK aid funding which will go the International Monetary Fund’s Catastrophe Containment Relief Trust to help developing countries meet their debt repayments. This will allow them to focus their available resources on tackling COVID-19. The UK has also worked closely with other G20 creditors and the Paris Club to provide a temporary suspension of debt repayments from the poorest and most vulnerable countries that request relief, further boosting countries’ capacity to respond to the crisis.

Secondary information