Lord Ray Collins rose to ask a question of the foreign secretary about the high cost of debt in developing countries “where they’re addressing such huge issues”, and what discussions his officials have had about creating a “fairer system” with private creditors.
But before answering the question, Lord David Cameron replied: “Can I congratulate the noble Lord on joining a club of which I’m a member, which is being personally sanctioned by Vladimir Putin.
“It’s a badge I wear with honour, and I’m sure he will do too.”
But as Lord Cameron was answering, Lord Collins triggered laughter in the chamber by replying: “That’s news to me!”
The foreign secretary added: “I follow these things very closely!”
On the substance of the question, Lord Cameron said the key is to stop private lenders from holding up the debt restructuring of developing countries.
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