§ Mr. Rostasked the Chancellor of the Exchequer when he expects to publish the terms of the IMF loan he is seeking including repayment and interest commitments.
§ Mr. HealeyIn accordance with past practice these will be published after the arrangements for the loan have been finally agreed.
§ Mr. Rostasked the Chancellor of the Exchequer (1) if he expects the IMF to impose performance targets as a condition to the loan he is seeking;
(2)whether he will publish the detailed conditions to be set out by the IMF on economic and fiscal management.
§ Mr. HealeyIn accordance with Fund practice on standby arrangements, the formal letter of application by the United Kingdom for a standby will include a statement of the economic and monetary objectives and policies of Her Majesty's Government, quantified where it is appropriate. One of the purposes of the present consultations with the IMF is to reach a common understanding on these matters. The letter of application will be published as soon as it conveniently can be after the arrangements for the standby have finally been agreed.
§ Mr. Rostasked the Chancellor of the Exchequer if he expects the negotiations with the IMF to be completed before 144W 9th December and, if not, if he will seek an extension to the existing standby credit.
§ Mr. HealeyI have nothing to add to what I told the House on 11th October.
§ Mr. Rostasked the Chancellor of the Exchequer if he proposes to seek parliamentary approval before accepting the terms of the IMF loan he is negotiating.
§ Mr. HealeyI have nothing to add to what my right hon. Friend the Lord President told the House on 25th November.
§ Mr. Rostasked the Chancellor of the Exchequer if he will publish the report on the United Kingdom economy currently being produced by the IMF in collaboration with his officials.
§ Mr. HealeyNo. Such reports are documents of the International Monetary Fund and are always confidential.