HC Deb 09 February 1977 vol 925 c728W
Mr. Higgins

asked the Chancellor of the Exchequer if he will list the countries which have drawn, or made arrangements to draw, on IMF credit facilities under the temporary increased limits more than they would have been entitled to draw when the new quotas are ratified and the extent to which these amounts exceed the new limits.

Mr. Robert Sheldon

Most members of the Fund have a larger entitlement under present Fund policies than they will enjoy under the new quotas. The United Kingdom is the only member country to have arranged a stand-by to the full amount available in the credit tranches including the temporary 45 per cent. increase. The stand-by is fully consistent with the Fund's present policies and satisfies the requirement of balance of payments need.