IMF & Brexit
P. John made this Freedom of Information request to HM Treasury This request has been closed to new correspondence. Contact us if you think it should be reopened.
Dear Her Majesty's Treasury,
in 1976 the UK - facing a record low exchange rate with the dollar, high inflation, and high government spending forecasts - the UK borrowed money from the IMF.
Back then, the GBP pound was worth around 1.7-2.0 USD.
Today, the pound is trading at record lows nearly 1.2USD, prices of imported products are increasing, and the Government is spending £billions on preparations for a 'no-deal' brexit.
Please could you disclose to me,
1) Confirm or deny a contingency loan arrangement has been agreed with the IMF in the event that a 'no deal' brexit triggers a currency crisis/run on banks
2) Disclose any correspondence with the IMF concerning the arrangement of such a contingency loan, and the repayment terms & conditions that might apply
3) Confirm the date when the UK last borrowed from the IMF, and the amount borrowed
Yours faithfully,
P. John
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Yours sincerely
Information Rights Unit | Correspondence and Information Rights | HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ www.gov.uk/hm-treasury
Dear P John
Please find attached HM Treasury’s response to your information request.
I have copied below the link cited in the response letter:
[1]http://www.nationalarchives.gov.uk/cabin...
Yours sincerely
Information Rights Unit | Correspondence and Information Rights Team | HM
Treasury, 1 Horse Guards Road, London, SW1A 2HQ [2]www.gov.uk/hm-treasury
This email and any files transmitted with it are intended solely for the
use of the individual(s) to whom they are addressed. If you are not the
intended recipient and have received this email in error, please notify
the sender and delete the email. This footnote also confirms that our
email communications may be monitored to ensure the secure and effective
operation of our systems and for other lawful purposes, and that this
email has been swept for malware and viruses.
References
Visible links
1. http://www.nationalarchives.gov.uk/cabin...
2. http://www.gov.uk/hm-treasury
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