I.M.F. Loan
Sir,—Referring to the letter of “What Hope?” who said that the Labour Government had repaid loan money, when a government borrows £lOO million from source A, and then repays it with a £lOO million loan received from source B, how could any government call this a repaid loan? interest on the new loan will be higher,-and the £lOO million debt will still exist May I quote the Public Debt in round figures during the period in question: 1938, £330 million; 1945, £550 million; 1949, £6lO million. The Public Debt just about doubled in under 11 years of Labour government. I am 100 per cent behind “What Hope?” on the World Bank. But would a Labour Government withdraw from the World Bank and LM.F.? —Yours, etc., B. V. BURROWS.
Karamea, May 27, 1967. [This correspondence is now closed.—Ed., “The Press.”]
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Bibliographic details
Press, Volume CVII, Issue 31383, 31 May 1967, Page 14
Word Count
141I.M.F. Loan Press, Volume CVII, Issue 31383, 31 May 1967, Page 14
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