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Revaluation Payments

Volume 474: debated on Monday 1 May 1950

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asked the Chancellor of the Exchequer what revaluation payments have been made to other countries and international organisations, to the latest convenient date, following the devaluation of the pound.

Revaluation payments to the end of March have been as follows:

£ million
Belgium and Belgian Congo5.1
British Honduras0.1
Brazil9.9
France0.3
Paraguay0.2
Persia10.9
Peru1.1
Portugal27.4
Switzerland1.2
Uruguay4.9
61.1
These payments have all been made from the Exchange Equalisation Account. In addition, the following payments have been made out of the Consolidated Fund:
£ million
International Monetary Fund148.0
International Bank for Reconstruction and Development25.4
173.4
A special payment of £600,000 to Brazil has also been made from moneys voted by the House in March.