Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Government response to the Eighth Report of the International Development Committee, Debt relief in low-income countries, HC 1393, published on 8 June 2023, what the evidential basis is for the conclusion that a legislative approach to debt relief could have unintended consequences in terms of access to finance for developing countries.

The Government’s policy position on private sector participation in debt relief initiatives, including a legislative approach, has been informed by extensive engagement with a diverse range of stakeholders with an interest in sovereign debt. These included representatives from the private sector, international governments, civil society organisations and academics. The Government has also previously consulted extensively on this issue.