Debts: Zimbabwe

Trade and Industry written question – answered on 5th March 2007.

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Photo of Ian McCartney Ian McCartney Minister of State (Trade & Investment), Department of Trade and Industry, Minister of State (Trade & Investment), Foreign & Commonwealth Office

Zimbabwe has been in default on ECGD-guaranteed contracts since 1998. Little has since been recovered, and nothing has been recovered since ECGD's 2002-03 financial year. ECGD's unrecovered claims currently amount to £105 million. Zimbabwe's arrears to official creditors are substantial and cannot be properly addressed in the continued absence of a funded IMF programme, which would be a prerequisite of any restructuring by the Paris Club Group of Official Creditors.

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