asked the Minister for Finance if, when the pound was devalued in 1967, payment was made by Britain to this country in respect of the devaluation; if any payment was made when the pound was recently floated; and if the United States Treasury made a similar arrangement with official holders of United States dollars.
Ceisteanna—Questions. Oral Answers. - Devaluation of £.
32.
No payment was made by Britain to this country when the £ was devalued in 1967. Under an agreement made in September, 1968, for a period of three years and renewed in September, 1971, for a further period of two years, a payment of some £3.8 million has fallen due from Britain in respect of the decline of the value of sterling to a recent date. The United States Treasury have not made any similar arrangements.
Does it follow from that that the US are not liable to this country?
That is right. There is no arrangement of that kind.
Is the payment from Britain solely in regard to official holdings of sterling?
Yes.