§ Mr. Dalyell
To ask the Secretary of State for Foreign and Commonwealth Affairs what steps the development committee of the World Bank has taken to deal with the chronic indebtedness of countries in the Amazonian basin to private banks and international institutions and with what results; and what further action is proposed.
§ Mr. Eggar
The development committee has repeatedly endorsed the current case-by-case growth-oriented strategy. This approach has encouraged a number of Latin American countries to embark on the economic reforms required to overcome their debt difficulties and led creditor Governments to provide financial assistance in support of adjustment programmes. The committee has called on debtors and banks further to broaden the choice of market-based options for use in voluntarily negotiated arrangements.