§ Mr. David Mitchellasked the Chancellor of the Exchequer what was the amount of debt incurred by the United Kingdom to the International Monetary Fund during the year ended 1st May, 1965, the amount of added liability incurred annually since, the amount repaid during the life of the present Government and the sum now outstanding.
§ Mr. NottSince the end of June, 1970, when the present Government assumed office, the United Kingdom's debt to the IMF has been reduced by £992 million, and is now fully repaid. In the period from 1st May, 1964, until the General Election in June, 1970, the United Kingdom made drawings from the fund to a gross total of £1,901 million, but the added liability over the period was £888 million. The table below sets out the detailed changes in the level of IMF debt 1964 to 1972.
Year ending Change in debt owed by UK to IMF in period(+ increase; —reduction) 1st May, 1965 + 352 1st May, 1966 + 519 1st May, 1967 - 43 1st May, 1968 -304 1st May, 1969 + 370 1st May, 1970 + 2 1st May, 1971 -319 1st May, 1972 -680