§ Mr. Arnoldasked the Chancellor of the Exchequer, pursuant to his answer to the hon. Member for Hazel Grove on 24 January, Official Report, c. 285, concerning the International Monetary Fund, what is the nature of the conditional financing which is envisaged from the general arrangements to borrow.
§ Mr. Bruce-GardyneThe resources of the enlarged general arrangements to borrow will become available to112W the fund for on-lending as conditional finance to non-participants when the fund is faced with an inadequacy of resources associated with balance of payments problems threatening the stability of the international monetary system. The detailed arrangements for on-lending have yet to be considered by the fund, but it seems possible that these resources will, like the supplementary financing facility and the enlarged access resources, be used in conjunction with the fund's ordinary quota-based resources to finance standby or extended arrangements.