Company News N.Z. BALANCE OF PAYMENTS
New Measures Assessed
(NZJ’.A.-Rentcr— Copyright) LONDON. May 18. "The New Zealand loan of £2om on the London market would not suffice to cover a payments deficit of the dimensions of that experienced during the last 12 months for much more than five or six months,” says "Lombard” in the "Financial Times.” "But, unlike Australia. New Zealand is not contenting herself with enforcement of general economic restraants to bring down the excessive import bill that is at the root of her troubles too. Import licensing controls are to be made much more stringent. Savings of £4om ‘‘Since it has been estimated that these restrictions will achieve savings of £4O million or more per annum it should be possible to count upon them eliminating the payments gap provided there are no major export setbacks—before reserves have been forced down to crisis levels again. "There is no reason why a gap should re-emerge if the Dominion Government takes appropriate care in developing its subsequent liberalism,” he says.
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Bibliographic details
Press, Volume C, Issue 29517, 19 May 1961, Page 15
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170Company News N.Z. BALANCE OF PAYMENTS Press, Volume C, Issue 29517, 19 May 1961, Page 15
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