Third World Debt

EDM number 413 in 1990-91, proposed by John McFall on 05/02/1991.

That this House, disturbed by the greater hardship imposed on the poorest peoples of the world by the debt crisis and concerned both that Gulf crisis has added considerably to this hardship and that the recent positive proposals for government-to-government debt reduction put forward by the Right honourable Member for Huntingdon, the then Chancellor of the Exchequer, have not been matched by corresponding moves from the commercial banks, believes that relieving debt should not be a burden weighing most heavily on the poor but a burden shared substantially and immediately by banks and multilateral lenders as well as creditor governments; and calls upon Her Majesty's Government to lead a co-ordinated strategy for the reduction of commercial bank debt in parallel to the reductions proposed in the Trinidad Terms.

This motion has been signed by a total of 90 MPs.