§ Mr. Gowasked the Chancellor of the Exchequer what reply he received from the managing director of the International 123W Monetary Fund to his letter dated 15th December 1977.
§ Mr. Robert SheldonI assume that the hon. Member is referring to my right hon. Friend's letter of 14th December 1977 to Mr. Witteveen.
As my right hon. Friend told the hon. Member on 24th March 1977 in answer to a similar Question, it is not customary for the managing director to reply to such letters. However, the executive board of the IMF approved the continuation of the standby arrangement for the United Kingdom, as the letter requested.