§ Mr. Michael McNair-Wilson
asked the Chancellor of the Exchequer how much of the previous Administration borrowing from the International Monetary Fund has now been repaid.276W
§ Mr. Lawson
[pursuant to his reply, 11 May 1981, c. 190]: The United Kingdom borrowed from the IMF SDR 700 million under the reserve tranche and SDR 700 million under the first credit tranche in 1976 and SDR 1,640 million under the 1977 standby arrangement. All the last Government's drawings under these credit tranches have now been repaid.
There are still drawings of SDR 437.5 million outstanding out of the SDR 1000 million borrowed under the 1975 oil facility. This is scheduled to be repaid in seven quarterly instalments of SDR 62.5 million ending in January 1983.