§ Mr. Waldenasked the Minister of State for Foreign Affairs what further financial support Her Majesty's Government will give to the Government of Laos to assist in stabilising the economy of that country.
§ Mr. George ThomsonLast year an International Monetary Fund team recommended that the Government of Laos should implement a programme of internal financial retrenchment, which, together with foreign help, was designed to stabilise the free market value of the local currency. To this end Her Majesty's Government agreed to subscribe the equivalent of U.S.$1.7 million70W (about £607,000) to a joint Stabilisation Fund, to which the United States, France and Australia also contributed.
Her Majesty's Government have agreed to subscribe a further U.S.$1.7 million to the Fund. The United States, France and Australia will also be making further contributions and Japan has now become an additional donor. Parliament will in due course be asked to vote the amount required. Meanwhile any advances which may be necessary will be obtained from the Civil Contingencies Fund.