§ Mr. McCrindleasked the Chancellor of the Exchequer if he has approached the International Monetary Fund to seek its assistance in obtaining release of airline revenues held by Third-world countries; and if he will make a statement.
§ Mr. Ian StewartThe articles of agreement of the International Monetary Fund provide that there should be no discrimination in the treatment of remittances to third countries. The fund is aware of the United Kingdom's concern about blockages of such remittances especially airline remittances (which in almost all cases are covered by provisions which have treaty status). In such cases, wherever appropriate, the United Kingdom supports the fund's policy, of seeking an agreed timetable for the equitable clearance of external arrears. The question of blocked remittances is also raised by the United Kingdom directly with the countries concerned as opportunity arises.