§ 36. Mr. Brockway
asked the Chancellor of the Exchequer if he will make a statement on the conference of the International Monetary Fund and the World Bank at New Delhi.
§ The Economic Secretary to the Treasury (Mr. F. J. Erroll)
The hon. Member will now have seen my right hon. Friend's statement during the debate on the Address on 3rd November.
§ Mr. Brockway
Yes. I did not hear it, but I read that statement with very great interest. In view of the fact that the executive directors of the International Monetary Fund are not to meet until the end of this year, and that after that Parliamentary and Congressional approval, involving very great delay, will have to be given to their recommendations regarding the increased quotas, will the Government give an example of rapid action for these urgent needs of the under-developed countries?
§ Mr. Erroll
The matter is being considered urgently by the respective executive boards, and I think we should rely on their work at this stage.