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IMF crisis

IMF building in Washington.
The imposing doorway of the International Monetary Fund building in Washington.
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In 1976 Britain faced financial crisis. The Labour government was forced to apply to the International Monetary Fund (IMF) for a loan of nearly $4 billion. IMF negotiators insisted on deep cuts in public expenditure, greatly affecting economic and social policy.

Related documents

Search using IMF loan Devaluation

Further reading

  • Dell, E., The Chancellors A History of the Chancellors of the Exchequer 1945-90 (London: HarperCollinsPublishers, 1996)
  • Burk, K., Good-bye Great Britain: The 1976 IMF Crisis (Yale University Press, 1992)