BORROWING BY I.M.F.
Assurance For N.Z. Wanted (N.Z. Press Association)
WELLINGTON, Sept. 20.
Notice of a question about the International Monetary Fund’s proposal to borrow money from Germany and other European countries was given by Mr N. E. Kirk (Opposition, Lyttelton) in the House of Representatives this afternoon.
He asked the acting-Min-ister of Finance (Mr Eyre) whether, in view of the announcement, by the man-aging-director of the fund (Mr Per Jacobssen) that the fund was considering borrowing from Germany and other European countries, he could give an assurance that New Zealand’s gold would not be pledged by the fund as a security for money borrowed from some foreign countries to lend to others or alternatively would not be sold for scarce currencies.
Mr Kirk said a published statement said “intense activity over the last year, said Mr Jocabssen. had slashed the fund’s holdings of certain currencies to a very low level in suite of the recent sale of gold.”
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Press, Volume C, Issue 29624, 21 September 1961, Page 16
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159BORROWING BY I.M.F. Press, Volume C, Issue 29624, 21 September 1961, Page 16
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