Pat Cox
Ceist:14 Mr. Cox asked the Tánaiste and Minister for Foreign Affairs whether Ireland has indicated concern to the Japanese Government at Japanese opposition to the Trinidad Terms; and if he will make a statement on the matter.
Ceisteanna — Questions. Oral Answers. - Trinidad Terms.
The Trinidad Terms are proposals for a debt reduction initiative put forward by the then Chancellor of the Exchequer John Major in 1990.
While Ireland supports the proposals, we would not consider it appropriate to make representations on a bilateral basis to other Governments, which may not do so. In our view, remedial action can only be established through continued discussion in the various international fora which are addressing the issue of developing country debt. The role which the Irish Government can best play is to support the international efforts being made to resolve the problem.
At the annual meeting of the IMF and the World Bank last September, the Minister for Finance called for a debt relief package to be formulated for the poorest regions, in particular sub-Saharan Africa, that would at least be in line with the Trinidad Terms. All member countries of the IMF and the World Bank, including Japan, were represented at the meeting, and are therefore fully aware of Ireland's position.
I am glad the Minister has answered the question. I attempted to raise a similar question with him but it was refused. Perhaps the Minister would comment on a recent report, published by Oxfam, on the failure of IMF and World Bank policies in relation to the debt of developing countries. I wonder if the Minister has read this report, which has been forwarded to him. It makes many good suggestions.
I do not know how relevant that is to this question.
It is very relevant.
I have not read the report but if the Deputy has a copy handy, perhaps he would forward it to me and I will include it in my reading.
I have been assured that it has been forwarded to the Minister by Oxfam.
I shall make a point of reading the report before the Deputy asks the question again in a month's time.