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James Duddridge
Main Page: James Duddridge (Conservative - Rochford and Southend East)Department Debates - View all James Duddridge's debates with the Foreign, Commonwealth & Development Office
(1 year, 4 months ago)
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Sir James Duddridge (Rochford and Southend East) (Con)
Is my right hon. Friend concerned, as I am, that Chinese sovereign debt is perhaps understated in countries such as Zambia, where banks lend directly to the Government but are effectively controlled by the ministry of finance in China? Will he do more to understand the totality of the debt and the indebtedness of specific countries to the Chinese Government?
Mr Mitchell
Yes. My right hon. Friend makes a very good point, and we need to show through what we do that there is a much better alternative. In 2020, we provided debt relief on repayments to the International Monetary Fund for 23 countries and contributed £150 million to the IMF catastrophe containment and relief trust. It is by doing such things that we show that there is a better way than the one the Chinese are using.