§ Sir David Priceasked the Chancellor of the Exchequer what proposals he has for resolving the growing international banking problem of debtor Governments who cannot meet their obligations.
§ Sir Geoffrey HoweI set out my general approach to these matters in my statement to the IMF annual meeting in Toronto. Among other things, it is obviously important to reach early agreement to ensure that the International Monetary Fund has sufficient resources to help member countries with balance of payments difficulties. At the same time, debtor countries with financial problems must recognise that they cannot avoid necessary adjustments.