§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer if he will itemise all international debts contracted by Her Majesty's Government since October, 1964, including deferred payments for arms and aircraft purchases due for settlement on or after 1st January, 1970, giving the amount in sterling in each case.
§ Mr. Callaghan
(a) I.M.F. drawings £ million December, 1964 417 This has been repaid in full. May, 1965 583 March, 1966 51 (b) Swiss loans £ million December, 1964 33 This has been repaid in full. May, 1965 17 October, 1967 43 (c) Bank for International Settlements £ million November, 1967 104 (d) U.S. Military aircraft credits The total value of the four credit agreements with the Export-Import Bank into which the United Kingdom has entered to date is £353 million. Not all of this credit has yet been drawn down. Substantial repayments will be made before 1st January, 1970.
§ Mr. Hordernasked the Chancellor of the Exchequer whether he will issue a table of figures showing the indebtedness of the United Kingdom in gold and convertible currencies other than sterling due to be repaid in the next five years, distinguishing between loans from central and foreign banks, the International Monetary Fund and other agencies.
§ Mr. CallaghanThe information relating to inter-governmental loans, drawings on the I.M.F., loans from the B.I.S. and 447W certain Swiss Banks is given in the following table.
£ million Repayments due in: 1968 1969 1970 1971 1972 Inter-Government Loans U.S.A. Line of Credit … … … 25.9 26.4 26.9 27.4 28.0 Canadian Line of Credit … … … 7.6 7.7 7.9 8.0 8.2 Economic Co-operation Administration … … … 4.6 4.9 5.3 5.6 6.0 Mutual Security Aid … … … .4 .5 .5 .6 .6 E.P.U.—Germany … … … 9.2 9.2 9.2 7.0 — Export-Import Bank credit (Military aircraft and missiles)* … … … 45.9 45.9 45.9 45.9 45.9 Lend-lease† … … … 4.1 4.2 4.3 4.4 4.5 Swiss Credit … … … 42.9 I.M.F. drawing—May, 1965‡ … … … 583 Parallel Swiss loan‡ … … … 17 I.M.F. drawing—March, 1966§ … … … 51 B.I.S. loan in connection with I.M.F. repayment ║ … … … 104 * Assuming that the full amount is drawn on the current line of credit ($500m.). No allowance has been made for drawings on further lines of credit, relating to the period after 30th June, 1968. † Subject to abatement for U.S. Education Commission (up to $750,000 p.a.) and foreign buildings operations (£50,000 to £100,000 p.a.). ‡ Repayable between May, 1968 and May, 1970. § To cover gold part of increased subscription, repayable between March, 1969 and March, 1971. ║ Repayable between mid-1968 and mid-1969.