§ Mr. Tim Rentonasked the Minister for Overseas Development what progress he is making in collaboration with his EEC colleagues towards the submission of proposals for commodity stabilisation and financial compensation schemes to UNCTAD-IV.
§ Mr. John GrantWe are still discussing these and other issues which will arise at UNCTAD IV with our Community partners. As regards compensatory financing, the meeting of IMF Ministers last January, at which my right hon. Friend the Chancellor of the Exchequer played a major role, has already led to agreement to extensive improvements in the IMF's Compensatory Financing Facility.