HC Deb 16 February 1959 vol 600 c14W
Mr. Arbuthnot

asked the Chancellor of the Exchequer whether he will make a statement about the United Kingdom's remaining drawing rights under the line of credit of 500 million dollars from the Export-Import Bank of Washington.

Mr. Erroll

Because of the strengthening in the international position of the £ which has taken place since this line of credit was established in 1957 and later renewed in 1958, Her Majesty's Government have decided not to draw the $250 million still available under the credit, and not to propose an extension of the period of availability of this drawing facility, which will therefore terminate at the end of this month.

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