Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what assessment he has made of the potential merits of legislating to incentivise private creditors to participate in debt relief for low-income countries.

The UK, alongside the G20 and Paris Club, expect private creditors to participate in debt restructurings on terms at least as favourably as bilateral (i.e. country) creditors.

The Government is focused on delivering a market-based (contractual) approach to private sector participation, for example recently developing Majority Voting Provisions for private loans.