This is something that each country has to decide for itself. Precisely what needs to be done differs because every country is unique, but I am sure that in each case open, accountable economic decision-making and a focus on productive expenditure, including basic health and education, will be vital aspects of their economic programmes. It is equally a challenge to creditors, whether they are individual governments such as the UK or the International Financial Institutions in which we are all shareholders. And it is in the creditors' interest too that the problem of unsustainable debt should be cleared out of the way. We must not allow the HIPC initiative to fail and the problem cannot be solved by any creditor alone.
Someone needs to provide a lead.
Today I want to explain five areas where the UK will take action and three areas where joint action is needed. First, countries who meet all the conditions of reform are still unable to relieve many of their debts. So my first initiative is to help countries meeting all the conditions to escape from the debt trap. My colleague Clare Short, the Minister for International Development, who is in Bangladesh, is announcing today that the UK will contribute 10.5 million dollars towards reducing Uganda's debts to the African Development Bank. Second, writing off aid loans.