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Mr. Pardoe
asked the Chancellor of the Exchequer what is Her Majesty's Government's response to the proposals of the Managing Director of the International Monetary Fund about the management of the impending glut of Arab funds.
Mr. Nott
As indicated in my right hon. Friend's statement on 22nd January, Her Majesty's Government warmly endorse the study of a possible new fund facility to assist in the channelling of the surpluses of oil producers.