§ 83. Mr. Warbey
asked the Chancellor of the Exchequer if he will publish the terms and conditions of the agreement with the authorities of the International Monetary Fund entered into last August by the previous Government, with a view to establishing a credit of $1,000 million to be drawn on in case of necessity.
§ Mr. Diamond
The negotiation of this Standby followed the normal pattern. Her Majesty's Government provided the Fund with full information about its economic and financial policies, and the Agreement, reached in the light of this, contained the usual provisions. These contain a reference to the information provided about policies, the period and amount of the Standby, an undertaking to keep in constant touch with the Fund, details of charges and repayment terms, and a formal reference to the circumstances under the Fund's Articles in which a country might become ineligible to draw. The text of these agreements is confidential to the member governments and the International Monetary Fund.