12. To ask the Chancellor of the Exchequer what progress has been made towards meeting the Government’s targets on debt relief; and if he will make a statement. (149021)

Treasury shares a PSA target for the 2005-08 period to ensure that 90 per cent. of the heavily indebted poor countries (HIPC) countries that had reached Decision Point by end 2005 receive irrevocable debt relief by end 2008. Of the 28 countries concerned, 22 have now completed the HIPC process and we expect to meet our PSA target.

The UK remains committed to the full implementation and financing of the HIPC Initiative to ensure maximum debt relief for the world’s poorest countries.