HC Deb 19 March 1959 vol 602 cc55-6W
Mr. Tilney

asked the Chancellor of the Exchequer whether he will now state his intentions about repayment of the $561,000,000 which the United Kingdom drew from the International Monetary Fund in December, 1956.

Mr. Amory

Her Majesty's Government notified the International Monetary Fund in December, 1958, that it would repay $200 million of its December, 1956, drawing before the end of the Fund's financial year (30th April, 1959), and repay the outstanding balance monthly during 1960 and 1961. Her Majesty's Government undertook to review the position in December of each year, and accelerate these repayments if the position warranted it.

The first repayment of $200 million is being made today.