Developing World: Debt Reduction - Question

Part of the debate – in the House of Lords am 3:18 pm ar 13 Chwefror 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Cameron of Chipping Norton Lord Cameron of Chipping Norton Foreign Secretary, Foreign, Commonwealth and Development Office 3:18, 13 Chwefror 2024

I thank the noble Lord for his question. We are happy to accept the IMF definition of debt sustainability and to use it as a baseline. We are happy to look at other ideas but, given the IMF’s role, that makes sense. I completely accept what lies behind the noble Lord’s question: 58% of low-income countries are now either in debt distress or at risk of it, so he raises an important point. However, I think the definition is done by the IMF.