asked the Chancellor of the Exchequer for what reason repayments to the International Monetary Fund may be made from Egyptian No. 1 Accounts.
Because any such repayments would be current transactions under Article XIX of the International Monetary Fund.
asked the Chancellor of the Exchequer if he will specify the liabilities of the London office of the National Bank of Egypt as laid down in Article I (i) of the Anglo-Egyptian Payments Agreement.
No. These liabilities are mainly to United Kingdom deposition.
asked the Chancellor of the Exchequer what is the policy of His Majesty's Government with regard to capital transfers within the sterling area from No. 1 Accounts under the Anglo-Egyptian Financial Agreement.
Not to interfere with the reasonable use by Egypt of funds in the Accounts.
asked the Chancellor of the Exchequer what sterling assets are held by the Royal Egyptian Government, otherwise than through the intermediary of banks in Egypt; and under what provision of Article I of the Anglo-Egyptian Financial Agreement such assets are treated.
Insignificant amounts in cash. The holdings in securities are adequately provided for now that Egypt has left the sterling area.
asked the Chancellor of the Exchequer what are the arrangements made under Article 7 of the annex to the Anglo-Egyptian Financial Agreement, respecting capital transfers.
asked the Chancellor of the Exchequer for what reason deposit and current account balances held by Egyptian businesses and private individuals are included under Article I (h) of the Anglo-Egyptian Payments Agreement.
Because I saw no serious risk in leaving these balances out of the No. 2 Accounts, into which they would, however, fall if requisitioned by the Egyptian Government.
asked the Chancellor of the Exchequer for what reason sterling acquired by Egypt from the International Monetary Fund will be creditable to No. 1 Accounts under Article II (1) of the Anglo-Egyptian Payments Agreement.
Because by definition it is sterling currently acquired for current transactions.