§ Mr. Watkinsonasked the Chancellor of the Exchequer what external loans 360W were negotiated by Her Majesty's Government between 1970 and February 1974, and since February 1974, respectively; and how much of these loans was taken up.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 28th June 1976; Vol. 914, c. 49], gave the following information:
Apart from some swap facilities which were activated and repaid within a very short period, no external loans were negotiated or taken up by Her Majesty's Government between 1970 and February 1974. Since February 1974, Her Majesty's Government have negotiated and taken up loans of $2.5 billion from the clearing banks, SDR 1 billion under the IMF oil facility and SDR 700 million of the IMF first credit tranche. A short-term facility of $5.3 billion has also been negotiated.