More Borrowing Likely This Year
(New Zealand Press Association)
WELLINGTON, Sept. 1.
The Minister of Finance (Mr Lake) said today that he was not able to give a written assurance that no further overseas borrowing will take place this financial year.
Mr A. J. Faulkner (Opp., Roskill) also asked for an assurance that no additional drawing from the International Monetary Fund would be made. “No Minister of Finance would bind himself in advance in the manner suggested by the honourable member,” said Mr Lake. "Obviously, the Government will consider further borrowing on a moderate scale in the light of the current substantial call on our overseas funds for New Zealand’s capital development.” Mr Lake said New Zealand’s drawing rights from the I.M.F. were available as
he had already indicated in answers to earlier questions.
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Bibliographic details
Press, Volume CVI, Issue 31154, 2 September 1966, Page 3
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134More Borrowing Likely This Year Press, Volume CVI, Issue 31154, 2 September 1966, Page 3
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