and promissory notes under second general increase will also be encashed. We are liable for payments to maintain the value of our subscription; but MOV adjustments have been suspended pending a decision on the Bank's unit of value (ie whether it should be the SDR rather than the US dollar).
-
AsDF We have committed over £161 m to the Fund and £6 m to one of its
predecessors. £54.5 m has actually been spent. Our committed resources will probably take the rest of the decade and into the 1990's to be disbursed.
This includes our latest commitment of nearly £72 Million under the third
replenishment which became effective in April 1983. Our share of earlier
funding was 5.24% but it was reduced to 4.14% in the third replenishment.
TASF We have provided a total of £2,760,000 (including £280,000 pledged in 1985) over the years on an ad hoc basis, and annually for the last nine
years or so. All the contribution has been spent. Our contributions
in the past have been tied to the provision of British consultants and
services, but since 1983 they have been untied to developing member countries
and those other developed countries which also untie their contributions.
We intend to provide a further £300,000 for spending in 1986-87. It is
expected that an allocation to the TASF will be made from new AsDF
replenishments. In that case the UK is not likely to continue to make
additional contributions as well.
International Financial Institutions Department
Overseas Development Administration
19 March 1986
4
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