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International Borrowing

Volume 958: debated on Tuesday 21 November 1978

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asked the Chancellor of the Exchequer whether he will make a statement on the future of the Basle facility and the International Monetary Fund standby.

The Basle facility came into effect on 8th February 1977. The facility was to run for two years, and it will expire on 7th February 1979. The IMF standby came into effect on 3rd January 1977. It too was for a two-year period, and it will expire on 2nd January 1979.