HC Deb 17 February 1970 vol 796 c64W
62. Mr. Higgins

asked the Chancellor of the Exchequer what increase is to be made in the United Kingdom's International Monetary Fund quota; what allocation of Special Drawing Rights has been made to the United Kingdom; and how much of the United Kingdom's reserves will be available for other purposes as a result.

Mr. Roy Jenkins

The proposed increase in our I.M.F. quota will be $360 million. This will increase our maximum drawing rights in the fund correspondingly. But it will require in 1970 a payment of the equivalent of one quarter in gold from the reserves of the I.M.F. For 1970 we have received Special Drawing Rights equivalent to $410 million. These form part of the reserves, for use as necessary.