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How much debt do low income countries owe, and what is the impact of debt on development? The briefing also discusses UK and global initiatives on debt relief.
How much debt do low income countries owe, and what is the impact of debt on development? The briefing also discusses UK and global initiatives on debt relief.
To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 22 November (HL158), why they agreed to defer Cuba’s debt repayments in 2021, how much the UK is owed by Cuba as a member of the Group of Creditors of Cuba, and when payment is expected.
To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 22 November (HL158), why they agreed to defer Cuba’s debt repayments in 2021, how much the UK is owed by Cuba as a member of the Group of Creditors of Cuba, and when payment is expected.
As outlined in the answer to HL549, the Group of Creditors to Cuba (GCC), including the UK, agreed in 2021 to defer payments due under the 2015 Agreement. This was on the basis of the Republic of Cuba’s economic and financial situation and the Cuban Government’s efforts to support Cuban economic development in the context of Covid-19.
The GCC and Cuba have confirmed their willingness to preserve the 2015 Agreement and commitment to ensure its full implementation. The GCC has not published the terms of implementation.
To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 22 November (HL158), what was the rationale behind the decision to defer payments under the 2015 agreement; and when they expect Cuba to make payments against this debt.
To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 22 November (HL158), what was the rationale behind the decision to defer payments under the 2015 agreement; and when they expect Cuba to make payments against this debt.
In 2021, the Group of Creditors to Cuba (GCC), including the UK, agreed to defer payments due under the 2015 Agreement. This was on the basis of the Republic of Cuba’s economic and financial situation and the Cuban Government’s efforts to support Cuban economic development in the context of Covid-19.
The GCC and Cuba have confirmed their willingness to preserve the 2015 Agreement and commitment to ensure its full implementation.
To ask His Majesty's Government what contribution they make to the Paris Club group of official creditors; how they monitor the use of any contributions to the group, and in particular whether any funds have been provided to Cuba in the last five years in funding or in debts being written off.
To ask His Majesty's Government what contribution they make to the Paris Club group of official creditors; how they monitor the use of any contributions to the group, and in particular whether any funds have been provided to Cuba in the last five years in funding or in debts being written off.
The Paris Club is an informal group of official creditors who coordinate on providing debt treatments for debtor countries. The UK does not make any financial contributions to the Paris Club, nor does the Paris Club have a function in providing any finance directly to countries. Any debt treatments agreed by the Paris Club are implemented on a bilateral basis between the official creditor and debtor countries.
In 2015, the Group of Creditors of Cuba (GCC), including the UK, agreed a debt treatment with the Government of the Republic of Cuba to restructure USD 2.6 billion of debt in arrears, over an 18-year period. In 2021, the GCC agreed to defer payments due under the 2015 agreement.
Sovereign debts: explanatory note and information about debts due to UK Export Finance (UKEF), by country and category. 23 p.
Sovereign debts: explanatory note and information about debts due to UK Export Finance (UKEF), by country and category. 23 p.
My right honourable friend the Secretary of State for International Development (Hilary Benn) has made the following Written Ministerial Statement. Since my last Written Statement in November 2005, there has been excellent progress on providing debt relief for poor countries. Under the Multilateral Debt Relief Initiative (MDRI) proposed by the...
My right honourable friend the Secretary of State for International Development (Hilary Benn) has made the following Written Ministerial Statement. Since my last Written Statement in November 2005, there has been excellent progress on providing debt relief for poor countries. Under the Multilateral Debt Relief Initiative (MDRI) proposed by the...
Since my last written statement in November 2005, there has been excellent progress on providing debt relief for poor countries. Under the Multilateral Debt Relief Initiative (MDRI) proposed by the G8 in 2005, the IMF cancelled 100 per cent. debt stock for 20 HIPC countries (15 of which are African)...
Since my last written statement in November 2005, there has been excellent progress on providing debt relief for poor countries. Under the Multilateral Debt Relief Initiative (MDRI) proposed by the G8 in 2005, the IMF cancelled 100 per cent. debt stock for 20 HIPC countries (15 of which are African)...
My right honourable friend the Secretary of State for International Development (Hilary Benn) has made the following Written Ministerial Statement. Excellent progress has been made on implementing the two key commitments on debt relief made by G8 leaders at the Gleneagles summit in July. In addition, the UK has granted...
My right honourable friend the Secretary of State for International Development (Hilary Benn) has made the following Written Ministerial Statement. Excellent progress has been made on implementing the two key commitments on debt relief made by G8 leaders at the Gleneagles summit in July. In addition, the UK has granted...
Excellent progress has been made on implementing the two key commitments on debt relief made by G8 leaders at the Gleneagles summit in July. In addition, the UK has granted further bilateral debt relief over the summer, and I take this opportunity to provide an update on the Heavily Indebted...
Excellent progress has been made on implementing the two key commitments on debt relief made by G8 leaders at the Gleneagles summit in July. In addition, the UK has granted further bilateral debt relief over the summer, and I take this opportunity to provide an update on the Heavily Indebted...
: My hon. Friend is slightly overstating his argument, which, as I am sure he would accept, he is occasionally prone to do. Some stand-by agreements include an element of privatisation, but we do not yet know whether that will be an element of the SBA that is negotiated with...
: My hon. Friend is slightly overstating his argument, which, as I am sure he would accept, he is occasionally prone to do. Some stand-by agreements include an element of privatisation, but we do not yet know whether that will be an element of the SBA that is negotiated with...
: As I understand the point about fuel subsidies, it is the timing that is crucial, because there are extensive fuel subsidies at present and the Iraqi economy cannot get going. However, I want to draw the Minister out on the conditionality in respect of privatisation. Are the Government in...
: As I understand the point about fuel subsidies, it is the timing that is crucial, because there are extensive fuel subsidies at present and the Iraqi economy cannot get going. However, I want to draw the Minister out on the conditionality in respect of privatisation. Are the Government in...
: I congratulate my hon. Friend the Member for Leyton and Wanstead (Harry Cohen) on securing the debate and on taking us through his objections to the arrangements that have recently been put in place or that are in prospect to help Iraq to rebuild its economy and improve its...
: I congratulate my hon. Friend the Member for Leyton and Wanstead (Harry Cohen) on securing the debate and on taking us through his objections to the arrangements that have recently been put in place or that are in prospect to help Iraq to rebuild its economy and improve its...
I thank Mr. Speaker for granting me this Adjournment debate on the Paris club arrangements for Iraq's debt. It is a good time for the debate, with the G8 leaders meeting this week, although they will focus on Africa. I support the Government's aid, trade and debt relief programme to...
I thank Mr. Speaker for granting me this Adjournment debate on the Paris club arrangements for Iraq's debt. It is a good time for the debate, with the G8 leaders meeting this week, although they will focus on Africa. I support the Government's aid, trade and debt relief programme to...
Westminster hall adjournment debate on the Paris Club arrangements for Iraq's debt.
Westminster hall adjournment debate on the Paris Club arrangements for Iraq's debt.
To ask Mr Chancellor of the Exchequer, what agreement concerning what proportion of debt has been reached in respect of write-off of Iraq's debts for which non-state actors are creditors; and if he will make a statement.
To ask Mr Chancellor of the Exchequer, what agreement concerning what proportion of debt has been reached in respect of write-off of Iraq's debts for which non-state actors are creditors; and if he will make a statement.
To ask Mr Chancellor of the Exchequer, what conditionality is required of Iraq by the International Monetary Fund; whether (a) the UK Government and (b) other Paris Club Governments are committed to the implementation of this conditionality under the Paris Club debt write-off deal; and if he will make a...
To ask Mr Chancellor of the Exchequer, what conditionality is required of Iraq by the International Monetary Fund; whether (a) the UK Government and (b) other Paris Club Governments are committed to the implementation of this conditionality under the Paris Club debt write-off deal; and if he will make a...
To ask Mr Chancellor of the Exchequer, what representations the UK Government is making to non-Paris Club countries to (a) match and (b) exceed Paris Club commitments in terms of debt write-off; and if he will make a statement.
To ask Mr Chancellor of the Exchequer, what representations the UK Government is making to non-Paris Club countries to (a) match and (b) exceed Paris Club commitments in terms of debt write-off; and if he will make a statement.
Press release issued by the Paris Club on 10th July, 2003 consisting of a table showing outstanding amounts due by Iraq towards creditor countries. FCO. 2003.
Press release issued by the Paris Club on 10th July, 2003 consisting of a table showing outstanding amounts due by Iraq towards creditor countries. FCO. 2003.
To ask the Secretary of State for Trade and Industry, what percentage of ECGD debt is interest payments. - Inc figures.
To ask the Secretary of State for Trade and Industry, what percentage of ECGD debt is interest payments. - Inc figures.
To ask the Secretary of State for Trade and Industry, pursuant to her Answer of 15th May, Official Report, column 659W, on the Export Credit Guarantees Department, if she will break down the money paid under the Export Credit Guarantees Department (a) in (i) 1999-2000, (ii) 1998-99 and (iii) 1997-98...
To ask the Secretary of State for Trade and Industry, pursuant to her Answer of 15th May, Official Report, column 659W, on the Export Credit Guarantees Department, if she will break down the money paid under the Export Credit Guarantees Department (a) in (i) 1999-2000, (ii) 1998-99 and (iii) 1997-98...