STERLING AREA
South Africa To Remain (N .Z.P.A.-Reuter—Copyright) LONDON, March 16. Dr. Verwoerd announced today that South Africa would remain a member of the sterling area —of which Britain is banker—after she leaves the Commonwealth on May 31. He said that if the United Kingdom was interested in maintaining reciprocal trade relations between the two countries to the advantage of both, arrangements could be made on similar lines to those of Britain’s relations with Ireland. Dr. Verwoerd said that in addition arrangements could be made regarding defence and other matters. “I have every reason to believe that| this will be the case,” hej said. All Commonwealth coun-l tries except Canada belong to the sterling area. It is the world’s biggest single trading unit, and has five nonCommonwealth members— Burma, Ireland, Iceland, Jordan, and Libya. South Africa’s decision to stay in the sterling area was I warmly welcomed in British! financial quarters.
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Press, Volume C, Issue 29466, 18 March 1961, Page 12
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151STERLING AREA Press, Volume C, Issue 29466, 18 March 1961, Page 12
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