§ 9. Mr. Juddasked the Chancellor of the Exchequer what proposals he will make concerning the needs of developing countries in the context of measures for improved international liquidity.
§ Mr. Roy JenkinsThe new I.M.F. scheme for special drawing rights will, when activated, be of both direct and indirect benefit to the developing countries.
§ Mr. JuddDoes my right hon. Friend appreciate that at a time when Britain is giving a lead in this matter, many of us would welcome any initiative we might show to look at the real needs of the developing countries in this respect?
§ Mr. JenkinsYes, Sir, and I would like to see this scheme activated as soon as it is reasonably practicable to do so. It would, as I say, help the developing countries both by increasing their liquidity and by increasing the liquidity of other countries, a matter of importance to them from the point of view of world trade and aid.
§ Mr. MaclennanWhile recognising that any improvement in the world liquidity situation would be of enormous benefit to the under-developed countries, may I ask my right hon. Friend whether he is looking at the proposals which have been made for linking access to rights with assistance to under-developed countries, in particular the proposals which have been put forward by Mr. Maxwell Stamp?
§ Mr. JenkinsI am aware of these proposals and I am aware of the general proposition which my hon. Friend puts forward. I think that such a link could be a useful device at some stage, but I believe that the first task is to get the special drawing rights established and accepted.