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IMF crisis

IMF building in Washington.
The imposing doorway of the International Monetary Fund building in Washington.

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)