§ Mr. Ralph Howellasked the Chancellor of the Exchequer if he will make a statement about the recent meeting of the International Monetary Fund — International Bank for Reconstruction and Development development committee.
§ Sir Geoffrey HoweI attended a meeting of the IMF/IBRD development committee in Washington on 28–29 April under the chairmanship of Mr. Ghulam Ishaq Khan, the Finance Minister of Pakistan. The meeting considered the world economic situation with special reference to the problems of developing countries. Among the particular issues addressed by the committee were the lending plans of the World Bank and of the other multilateral development institutions, the funding of the International Development Association, the external debt problems of certain countries, and the linkages between trade and development. I am placing in the Library a copy of the communiqué, which sets out the committee's conclusions on these subjects.
I also attended a meeting of Finance Ministers from economic summit countries, at which a statement, which has already been placed in the Library, was issued. At both meetings stress was laid on the importance, in the general interest, of industrial countries following policies likely to promote sustainable and non-inflationary growth.