Debts: Developing Countries
The question
To ask the Chancellor of the Exchequer, what steps she has taken to support representations of developing nations in international discussions on global sovereign debt.
Answered by Lucy Rigby
The UK government is committed to supporting and working closely with developing nations in international discussions on global sovereign debt. The UK government engages with our partners through various multilateral fora, including the G20, the Paris Club and the Global Sovereign Debt Roundtable. Through the G20, we participate collaboratively in the Common Framework, helping to deliver coordinated and sustainable solutions for low-income countries facing debt vulnerabilities. We are committed to strengthening Global South voices across the Global Financial System in relation to sovereign debt. This was exemplified our support of the outcome document from the Fourth International Conference on Financing For Development (Compromiso de Sevilla) in July of this year, which called for the establishment of a platform for borrower countries with support from existing institutions.
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