§ Mr. Arnold
asked the Chancellor of the Exchequer, pursuant to the answer to the hon. Member for Hazel Grove on 25 February, Official Report, c. 570, concerning negotiations between the International Monetary Fund and Brazil, if he will make a statement on the outcome of the meeting of the executive board of the International Monetary Fund on 28 February.
§ Mr. Bruce-Gardyne
On 28 February the executive board approved for Brazil an extended arrangement of SDR 4.2 billion, a first credit tranche drawing of SDR 0.2 billion and a drawing under the compensatory financing facility of SDR 0.5 billion. The United Kingdom supported the decisions. Discussions of the executive board are confidential.