Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to the Annex to the communiqué published following the G20 Summit in Brisbane in November 2014, what steps the Government is taking to implement the call for the inclusion of strengthened collective action and pari passu clauses in international sovereign bonds and for their use to be actively promoted by the international community and private sector.

The Government strongly supports the promotion of strengthened collective action and pari passu clauses in international sovereign bonds, and has called on the International Monetary Fund to take an active role in doing so. The Government hopes that the text in the G20 Communiqué will lend momentum to this process.