HC Deb 09 April 1976 vol 909 cc327-8W
Mr. Duffy

asked the Chancellor of the Exchequer what proposals he has received for the amendment of the Articles of Agreement of the International Monetary Fund; and if he will make a statement.

Mr. Healey

The Executive Directors of the Fund have recently made their final recommendations to the Board of Governors on the Second Amendment to the Articles of Agreement of the Fund. A copy of the Directors' Report and the Amendments will be placed in the Library. The proposed Amendments follow the same general policy lines as I described to the House on 12th January after the Jamaica meeting of the Interim Committee, and as the United Kingdom Governor, I shall be voting in favour of them. I believe that the Amendments, which are the result of a very great deal of discussion and compromise, represent a satisfactory outcome for the United Kingdom and a worthwhile step forward in international financial co-operation. Both the Amendments and the concommitant increase in quotas will have minor legislative implications and I shall be putting proposals for legislation before the House in due course.

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