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<p>The Chancellor of the Exchequer has not discussed proposals to establish an “Overseas
Loan Transparency Register” with the Secretary of State for International Development.</p><p>
</p><p>The UK Government is concerned about the sustainability and transparency of
loans to low income developing countries. Given the complex international nature of
sovereign debt, we continue to believe that internationally-agreed approaches are
the most effective way to promote sovereign debt transparency.</p><p> </p><p>The UK
is working through the G20 to monitor an industry-led initiative by the Institute
of International Finance (IIF) to improve the transparency of lending of private creditors.
The work of the IIF was acknowledged by finance ministers in June at the G20 finance
ministers’ summit in Fukuoka, and the UK government will be closely monitoring its
progress.</p><p><strong> </strong></p>
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