Ivor Callely
Question:108 Mr. Callely asked the Minister for Finance the progress of the HIPC and other initiatives in order to alleviate the burden of Third World debt; and if he will make a statement on the matter. [24828/01]
Vol. 542 No. 6
108 Mr. Callely asked the Minister for Finance the progress of the HIPC and other initiatives in order to alleviate the burden of Third World debt; and if he will make a statement on the matter. [24828/01]
The HIPC initiative provides a comprehensive framework aimed at reducing the external debt stocks of heavily indebted poor countries to sustainable levels. The resources thus released are expected to support sustained economic growth and poverty reduction in these countries. The initiative covers both multilateral and official bilateral debt in roughly even proportions.