Africa

My hon. Friend speaks with much experience as well as expertise on these matters. He is right to point to the need not just for a change in political representation in the IMF, but for increased resources for the IMF, not least because several east European countries are asking for IMF support, so Africa needs to ensure that it has got its place. I am very encouraged by the fact that Japan has committed significant sums—I think I am right in saying $100 billion—to the IMF, and the European Union has done the same. I hope that that will be added to by the time of the final summit communiqué on Thursday. The issue of IMF resources is an important one, and the IMF must ensure that some of the old stigma that was associated with it is reduced and that it is able to meet the needs that undoubtedly exist.