exactly what happened to the United Kingdom in 1976 UK Cabinet Papers summer of 1976 IMF crisis This miscalculation changed the way Britain was governed as it has been in the past loaned the United Kingdom £2.3 billion Sterling devalued and the IMF loan -Cabinet Papers summer of 1976 IMF crisis to seek help from the IMF this summary National Archives loaned the United Kingdom £2.3 billion as it has been in the past to seek help from the IMF exactly what happened to the United Kingdom in 1976 exactly what happened to the United Kingdom in 1976 loaned the United Kingdom £2.3 billion « Sterling devalued and the IMF loan » sterling crisis of 1976 Back to 1976. UK Cabinet Papers for details