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International Monetary Fund And World Bank

Volume 941: debated on Wednesday 14 December 1977

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asked the Chancellor of the Exchequer what progress has been made in considering the level of salaries for staff of the International Monetary Fund and the World Bank.

It is proposed that the Governments of France. Germany, Japan, the United Kingdom and the United States should finance an independent study of staff remuneration. It is estimated that the total cost of the study will not exceed $300,000, to be shared equally between the five Governments. Parliamentary approval for the United Kingdom share of the cost, to be carried on the Treasury Vote, will be sought in a Spring Supplementary Estimate. Pending that, any necessary expenditure will be met by repayable advances from the Contingencies Fund. The amount involved will be contained within the Treasury's cash limit.