G20: Debt Cancellation

Lord Hussain Excerpts

Wednesday 10th June 2020 Lords Chamber

[Baroness Penn]

Yes, we will.

[Lord Hussain (LD) [V]]

My Lords, I know that Britain plays a major role in fighting poverty around the world and I appreciate the UK’s generous donation of £150 million to an IMF debt relief scheme used for Covid-19. What further plans do the Government have to take part in international initiatives to repay the debt of the poorest countries?

[Baroness Penn]

As I said in my response to the noble Lord, Lord Livermore, we will continue to work with the G20 and look at the extension of the debt service suspension initiative. One of the things that makes that initiative so ground-breaking is that it is the first time that China has signed up to a multilateral agreement of this nature, and as it is the largest lender to some of these countries, that will have a big impact for them.