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Export Credit Guarantees: Egypt

Business, Innovation and Skills written question – answered on 8th June 2011.

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Photo of Malcolm Bruce Malcolm Bruce Chair, International Development Committee

To ask the Secretary of State for Business, Innovation and Skills what consideration he has given to the merits of auditing debts owed by Egypt to the Export Credits Guarantee Department; and if he will consider the merits of cancelling any debt owed by Egypt which was the result of loans made to governments which are considered undemocratic.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

No audit of debts owed by Egypt to the Export Credits Guarantee Department is contemplated. To date Egypt has not sought cancellation of debts owed to ECGD or any other export credit agency. Such matters would be decided multilaterally through the auspices of the Paris Club of official creditors.

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