HC Deb 06 June 1957 vol 571 c135W
84. Sir T. Moore

asked the Chancellor of the Exchequer what reasons have influenced Her Majesty's Government in agreeing, even in principle, to the withdrawal by Egypt of a portion of her sterling balances held in this country.

Mr. Gordon Walker

asked the Chancellor of the Exchequer whether he has now decided to modify the blocking of Egypt's No. 1 Account.

Mr. Birch

No part of Egypt's blocked sterling balances has been placed at her free disposal. Arrangements have been made to permit exporters to be paid from the No. 1 Account for goods contracted for before 28th July, 1956. Many of the goods have been already delivered. The arrangements were forecast in the statement made by my right hon. Friend the Prime Minister on 13th May.