§ Mr. DenhamTo ask the Secretary of State for Foreign and Commonwealth Affairs if he will provide a table setting out, for each year since 1982, the total contribution made by Her Majesty's Government to each of the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency, the International Monetary Fund, the Inter-American Development bank, the African Development bank and the Asian Development bank; and, in each case, what Her Majesty's Government's contribution represents as a percentage of the annual income and expenditure of each institution.
§ Mr. Lennox-BoydThe table sets out United Kingdom contributions to each of the institutions. United Kingdom shareholdings in most of the institutions are determined at the time of periodic capital increases or of replenishments of concessional funds. In the case of the International Monetary Fund, the United Kingdom's stakeholding is determined by its quota, which is effectively a loan remunerated at a market-related interest rate. Multilateral development bank operations are funded mainly by borrowings on the international capital markets. Expressing contributions as a percentage of annual income and expenditure is of marginal utility, therefore, and could be provided only at disproportionate cost.
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1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 IADB 679 667 1,195 1,585 1,793 1,869 1,491 1,281 774 503 IADB:FSO 4,585 4,110 7,316 11,666 9,689 5,346 3,001 1,020 1,401 — Notes:
1. The IMF figures shown are for United Kingdom contributions to various facilities, including, from 1988 on, the enhanced structural adjustment facility (ESAF) interest subsidy account.
In common with other members, the United Kingdom's principal contribution to the IMF is in the form of a loan, the "quota", on which is paid a market-related rate of interest. As part of the 1983 general quota increase, the United Kingdom increased its loan by SDR 1,806.5 million. As part of the 1992 general quota increase, the United Kingdom increased its loan by a further SDR 1,220.6 million. At the current rate of exchange between the £ and SDR, these amounts are equivalent to approximately £1.7 billion and £1.1 billion respectively.
2. Acronyms
IBRD: International Bank for Reconstruction and Development ("World Bank"); IDA: International Development Association; IFC: International Finance Corporation; MIGA: Multilateral Investment Guarantee Agency; IMF: International Monetary Fund; AfDB: African Development Bank; AfDF: African Development Fund; AsDB: Asian Development Bank; AsDF: Asian Development Fund; IADB: Inter-American Development Bank; IADB FSO: IADB Fund for Special Operations.