HC Deb 16 May 1972 vol 837 c51W
49. Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer if he will make a statement about the arrangements for repayment of debts incurred by the United Kingdom Government with the International Monetary Fund between 15th October, 1964, and 18th June, 1970, falling due next month, and the extent to which any such repayment will involve an increase in the proportion of the reserves held in inconvertible dollars.

Mr. Nott

As already announced, we fulfilled all our obligations to the IMF, totalling £479 million, on 28th April. Abouts one-third of the transaction involved the use of our own holdings of SDRs. I cannot give details of the Exchange Equalisation Account's holdings of reserve assets ahead of the normal publication date.