§ 8. Mr. CorbynTo ask the Chancellor of the Exchequer what further discussions he has held with the International Monetary Fund concerning the problems faced by south-east Asian economies. [32500]
§ Mr. Gordon BrownI had useful recent discussions with IMF Managing Director Michel Camdessus on the current financial problems in Asia, at both the ECOFIN meeting of EU Finance Ministers on 16 February and at the meeting of G7 Finance Ministers and Central Bank Governors on 21 February. In addition, I have been keeping in close and regular touch with the UK's Executive Director to the IMF in Washington. I am encouraged that confidence is beginning to return in those countries where reforms are being implemented with vigour. But the situation in Indonesia remains of serious concern, and renewed commitment to the IMF programme will be vital if financial stability is to be restored.