HC Deb 20 July 1933 vol 46 cc142-3W
Mr. Dalyell

asked the Prime Minister what evidence Her Majesty's Government have for the statement by the Economic Secretary to the Treasury, Official Report, 11 July, c. 617, that International Monetary Fund loans will make Argentina less likely to purchase arms.

The Prime Minister

The International Monetary Fund cannot lay down the detailed public expenditure programmes. It requires a disciplined financial policy which limits the level of public expenditure and which sets other performance targets. To the extent, therefore, that Argentina is forced to give priority to paying debt, controlling public expenditure and limiting borrowing, its ability to purchase arms should be constrained.