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Britain acts alone to give debt relief

Condition imposed on LDCs to apply IMF reform plan
HARARE. Oct 18 : Prime Minister John Major said c^'X^rvlleno"^*^ poorest countries and he hoped other rich countries would follow suit, reports Reuter.
He made the announcement at a summit of the 50-nation Commonwealth. where the news was welcomed because some members stood to benefit tf the so-called Trinidad Terma^DebtReliefProgramme
Major said Britain was going It alone after tailing to secure joint implementation of the programme by the Paris Club creditors, encountering resistance mainly from the United Slates.
Under the terms, the world's poorest states would have two thirds of their official debt written off on condlllon
they apply an International Monetary Fund (IMF) Economic Reform Plan.
A British write-off alone weak amount to TH million Delian a total debt of 1.3 billton and benefit mainly Zambia, countries wouwTcnent if all creditors implemented the scheme.
'What it will mean for the really poorest countries is that ttay will have some Incentive to put their economy to rights and not see all the virtue of that disappears in debt repay mcnls.' Major told reporters later.
*1 just wanted to give (the programme) a push,' he said.
Speaking to a closed conference. session, he said : "If agreement (on the Trinidad Terms) can t be reached in the Paris Club in the very near future. the UK acting tn concert
with a* many of Ita Paris Chib colleagues as possible. will Im plement the Trinidad Terms."
A British official quoted him as saying : "we shall do thia whether or not other official creditors are prepared to join US. though we hope they wtU"
Major told reporters Canada would follow suit and Australia Mid it would look carefully at
Britain will bring up the Issue at the Paris Club meeting in the French capital next
the Paris Chib will support IL It's been under dis cusaton for aome time and 1 think where'll be general aup-porl for it." Major said
He said Britain, which proposed the Trtntdad Terms at a Commonwealth conference in September last year, had iried to persuade the Americans lo accept them-