§ Lord AVEBURY
asked Her Majesty's Government:
Whether they consider that President Somoza enhances the creditworthiness of his régime by bombing his own capital and massacring his citizens; and whether they will seek to revoke the IMF's approval on 14th May, 1979 of 66 million dollar credits for the Government of Nicaragua.
§ The MINISTER of STATE, TREASURY (Lord Cockfield)
No, my Lord. The Nicaraguan Government will not be able to make further drawings unless they can meet the economic performance criteria laid down in their agreement with the Fund. Under its articles, the Fund's power to declare members ineligible to use its resources may be invoked only if a member is in breach of its obligations to the Fund.