Developing Countries: Debts
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps his Department is taking to support debt relief for poorer nations.
Answered by Stephen Doughty
Supporting developing countries to tackle unsustainable debt is a key development priority of this government. The UK is playing its full part to support countries who face unsustainable debt burdens. Where we are a creditor, we have fully engaged in debt restructuring negotiations. We welcome recent Common Framework debt agreements with Zambia and Ghana and are calling for efforts to strengthen and speed up future debt restructurings.
We are also focussed on strengthening the system for the future. This means improving debt transparency, strengthening debt management, global implementation of sustainable lending and borrowing practices, and wider roll out of Natural Disaster Clauses which pause debt repayments when a climate or health disaster hits.
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