JAPAN TO REPAY BOND DEBTS
450,000,000 DOLLARS INVOLVED
(ttee. 7 n.ni.) TOKYO, September 27. , Japan ha* agreed to pay Mr pre-Vzar foreign bona debts, estimated at about 450,006,600 dollars, almost at par, according td the Associated Press. „An llitethatidhal conference en Japan’s debts has dfaWh ue ah agreement which Will be aiinounced on Monday. Firiahcial experts from four nations-—Britain, the United States, France and Japan—laboured for more than two months to reach an agree* ment
Japan had repeatedly expressed a desire to pay her debts and restore her credit, but a “dollar option” clause in some of the British bohfls had the conference almost deadlocked from the time it began on July 21. These bonds specified that payment could be made either iii dollars at New York Of in £’S in Londoh. Britain, hard pressed for dollars, had insisted on payment in dollars; Presumably this sttimbhng block was agreeably removed, the Associated Press says.
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Press, Volume LXXXVIII, Issue 26848, 29 September 1952, Page 7
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154JAPAN TO REPAY BOND DEBTS Press, Volume LXXXVIII, Issue 26848, 29 September 1952, Page 7
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