CHARGES ON LOANS
Mr Nash’s Comment
(N.Z Press Association) WELLINGTON, May 19 Commenting on a statement made by the Minister of Finance (Mr Lake) on the International Monetary Fund, the Leader of the Opposition (Mr Nash) said today: "Any reference that I made to the comparative cost of borrowing within the membership of the International Monetary Fund was to borrowing from the International Bank of Reconstruction and Settlement, whose practice I understand,” said Mr Nash, “is to add to its borrowing rates a charge of 1 per cent, when lending to members of the Internationa! Monetary Fund. “If the bank raises a loan at 5 per cent., its lending rate for that money is 6 per cent..” he said.
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Bibliographic details
Press, Volume C, Issue 29518, 20 May 1961, Page 12
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119CHARGES ON LOANS Press, Volume C, Issue 29518, 20 May 1961, Page 12
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