H.M. TREASURY

HM Treasury News Release

212/99

14 December 1999

UK OPERATIONS AT THE IMF - REPORT PUBLISHED

The UK's priorities and role at the IMF are explained in an annual report to Parliament published for the first time by the Chancellor Gordon Brown today.

The report covers the period October 1998 to September 1999 and includes topics such as:

*the role of the IMF and the UK's current priorities;
*IMF programmes and surveillance;
*international codes and standards,
*private sector involvement in crisis prevention;
*transparency and accountability in the fund's own operations; and

*initiatives aimed at strengthening the link between debt relief and poverty reduction.

The Chancellor announced the publication of 'The UK and the IMF 1998-1999' while at the Treasury Select Committee.

Notes for Editors

1. The Treasury Select Committee's 1998 report on the 'World Economy and the Pre-Budget Report' recommended that the Treasury make annual reports to Parliament on the work of the Executive Director at the IMF and on activities of the Fund.

The text of the report can be found on the HM Treasury website at: www.hm- treasury.gov.uk or from the Press Office.