§ Mr. Hattersley
asked the Chancellor of the Exchequer whether he is yet able to announce the outcome of his application to the International Monetary Fund for a further drawing.
§ Mr. Callaghan
Yes. The Executive Board of the International Monetary Fund has today announced its agreement to a drawing by the United Kingdom of $1,400 million—£500 million—which will take place before the end of the month. The Swiss authorities, who are not members of the International Monetary Fund, have at the same time offered to make available to us the equivalent of $40 million (£1.3 million) which we are glad to accept.