BULGARIAN DEBTS

Press, Volume LXX, Issue 21146, 23 April 1934, Page 11

BULGARIAN DEBTS

MORE INTEREST TO BE PAID sk;n of general improvement ,i:::m-.!i oitk iai. \yi,;kli«^S (Received April 22, 7.15 p.m.) RUGBY, April 20. The announcement by the League of Nations Loans Committee in London that the Bulgarian Government had agreed to increase the repayment of interest of the 7 per cent. Refugee Settlement Loan of 1920, and the per cent. Stabilisation Loan of 1928 from 25 per cent, --the rate which, by arrangement, has been paid for the last year—to 32\ per cent, for the next two years. These pavments will be in addition to those which Bulgaria has undertaken to make in respect of the 10 per cent. payments which accumulated during the years 1932 to 1934 in respect of the untransferred portion of the service of two loans. The League Loans Committee recommends bondholders to acquiesce in the Bulgarian Government's proposals. The financial editor of "The Times'' describes the announcement as gratifying and sees in it an indication that the great improvement in local conditions, even among the poorer European countries, is beginning to increase the ability to meet debts. He adds that it is rather striking that Bulgaria should be able to increase her external debt payments at a time when richer countries like Germany are it 111 talking of reducing their.-;. Bulgaria lias also been making some substantial payments off the arrears of commercial debts.