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 Collins of Highbury Lord Collins of Highbury Opposition Whip (Lords), Shadow Spokesperson (Equalities and Women's Issues), Shadow Spokesperson (Foreign and Commonwealth Affairs and International Development), Shadow Deputy Leader of the House of Lords 3:18, 13 Chwefror 2024

My Lords, in introducing the White Paper, Andrew Mitchell said that it cannot be right for individuals in this country to borrow money at 4% or 5%, while for developing countries that are addressing such huge issues, the cost of borrowing is so high. What discussions have the noble Lord’s officials had regarding private creditors holding low-income country debt? Does he agree that a fairer system is needed between private creditors and countries in debt distress?