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Debtor Countries

Volume 205: debated on Wednesday 4 March 1992

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To ask the Chancellor of the Exchequer what is the current total of outstanding debt owed to the United Kingdom by each of the groups of countries defined by the World bank as (i) Trinidad-eligible debtors, (ii) other low income debtors and (iii) middle income debtors; and what is the combined debt owed to the United Kingdom by all three groups of countries.

The World bank does not define a group of debtor countries eligible for the Trinidad terms. The World bank classifies those countries where per capita income in 1990 was no more than $610 as low-income countries. Middle-income countries are those where per capita income in 1990 was more than $610 but less than $7,620. The amount owed to the United Kingdom Government by the low-income debtors is about £4 billion. This comprises £3·75 billion owed in claims and oustanding interest on those claims owed to the Export Credits Guarantee Department and £1/4 billion owed to the Overseas Development Administration. The amount owed to the United Kingdom Government by the middle-income debtors is also about £4 billion, comprising a little over £31/2 billion in claims and outstanding interest on those claims owed to the ECGD, and about £350 million owed to the ODA.