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1504375
registered interest false more like this
date less than 2022-09-02more like thismore than 2022-09-02
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury remove filter
answering dept sort name Treasury more like this
hansard heading Debts: Southern Africa more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, in the context of remarks made by Anglican Bishops at the recent Lambeth Conference, what assessment he has made of the potential merits of cancelling debts owed by countries in southern Africa that are facing food shortages. more like this
tabling member constituency Glasgow North remove filter
tabling member printed
Patrick Grady more like this
uin 45883 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-09-20more like thismore than 2022-09-20
answer text <p>The Government recognises the significant debt vulnerabilities in developing countries and the critical challenge posed by food insecurity and is working closely with international partners to address these issues.</p><p> </p><p>The UK, along with the G20 and Paris Club, agreed a new Common Framework for Debt Treatments beyond the DSSI (CF), which was designed to help deliver a long-term, sustainable approach for supporting low-income countries facing debt vulnerabilities. 73 of the most vulnerable countries are eligible to request a debt treatment under the Framework and our priority is to work with our G20 partners to implement it quickly for those who have requested it and support new countries who come forward.</p><p> </p><p>The UK also continues to work with the international community to directly support countries affected by the food security crisis. For example, the UK played a leading role in securing the World Bank’s commitment of $12 billion of new projects in the next 15 months to respond to the food security crisis, on top of $18 billion of existing projects.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
question first answered
less than 2022-09-20T13:43:24.317Zmore like thismore than 2022-09-20T13:43:24.317Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4432
label Biography information for Patrick Grady more like this
1504376
registered interest false more like this
date less than 2022-09-02more like thismore than 2022-09-02
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury remove filter
answering dept sort name Treasury more like this
hansard heading Debts: Zambia more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what discussions he has had with UK-based private creditors and financial institutions that have bought debt owed by Zambia as part of its recent debt restructuring process. more like this
tabling member constituency Glasgow North remove filter
tabling member printed
Patrick Grady more like this
uin 45884 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-09-20more like thismore than 2022-09-20
answer text The Common Framework was agreed in November 2020 by the UK, along with the G20 and Paris Club, to help deliver a long-term, sustainable approach for supporting low-income countries to tackle their debt vulnerabilities. Zambia is one of three countries – along with Chad and Ethiopia - to have so far requested the Common Framework.<p> </p><p>Private sector participation in the Common Framework is critical. Under the terms of the Common Framework, a debtor country that signs an MoU with participating official creditors will be required to seek from all private creditors a treatment at least as favourable. Accordingly, once Zambia signs an MoU for its case it will need to engage its private creditors to ensure their participation on comparable terms.</p><p>The Government engages private sector creditors on international debt issues in a number of fora and will work closely with its international partners to ensure private creditors fully play their part in Zambia’s restructuring.</p> more like this
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
question first answered
less than 2022-09-20T13:45:27.81Zmore like thismore than 2022-09-20T13:45:27.81Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4432
label Biography information for Patrick Grady more like this