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International Monetary Fund

Volume 481: debated on Wednesday 22 November 1950

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asked the Chancellor of the Exchequer for what reason sums due to the International Monetary Fund through borrowings by this country are not shown amongst items of External Debt or in the Finance Accounts.

I presume the hon. and gallant Member's Question refers to the sterling resources of the International Monetary Fund which are invested with the Exchequer and which consist for the most part of the United Kingdom's subscription to the Fund. These "borrowings" are repayable in sterling. They are, therefore, classed as "internal debt" and shown as such on page 55 of the Finance Accounts for 1949–50.