HC Deb 09 March 1965 vol 708 cc49-50W
Mr. Woof

asked the Chancellor of the Exchequer if he will give a table showing the amounts borrowed from foreign sources by Her Majesty's Government in each of the years 1954 to 1964, the

OVERSEAS LOANS TO THE UNITED KINGDOM GOVERNMENT, 1954–1964
Name of loan and Rate of Interest per annum Receipts Payments
Year Amount £m. Year Amount £m.
Principal Interest
U.S.A.
Export-Import Bank credit 4½% … 1957 89 1957 — —
1958 — 4.0
1959 89 4.0
Federal Republic of Germany
Treasury Bond 2⅞% … … 1959 37.5 1959 7.5 0.1
1960 7.5 0.9
1961 22.5 0.5
Switzerland
Swiss Government 3% … … 1961 18 1961 — —
1962 — 0.5
1963 — 0.5
1964 18 0.5
Totals … … 144.5 144.5 11.0
I.M.F.: U.K. Drawings AND REPURCHASES 1954–1964
(nearest £ million)
Drawings Repurchases
1954 … … — 40
1955 … … — —
1956 … … 201 —
1957 … … — —
1958 … … — —
1959 … … — 71
1960 … … — 127
1961 … … 536 150
1962 … … — 308
1963 … … — —
1964 … … 357 —

The amount repurchasable, and actually repurchased, from the I.M.F. on any occasion by the united Kingdom depend not only on the size of outstanding U.K. drawings and the extent to which the U.K. has paid by any charges thereon in sterling, but also on the use made of sterling by other members in transac-

interest at which they were borrowed, the total interest payment for the period, the amount of debt repaid and the amount still outstanding.

Mr. Callaghan

The amounts of new loans to Her Majesty's Government and of United Kingdom drawings on the International Monetary Fund in the years 1954 to 1964 and the other information asked in respect of these are as follows (assistance from Central Banks is omitted):

tions with the Fund. With this proviso, the amount outstanding on 31st December, 1964 for ultimate repurchase by the United Kingdom was £358 million. In the eleven years 1954 to 1964, the United Kingdom paid £12 million to the Fund on account of charges. Details of the various rates at which these were payable are summarised on page 9 of the Fund's publication International Financial Statistics, a copy of which is available in the Library.