BRAZIL’S DEBTS

Evening Star, Issue 21974, 9 March 1935, Page 16

BRAZIL’S DEBTS

MiSSION IH ENGLAND ASREEMEKT EXPifiTEO (British Official Wireless.) Press Association—Bj Telegraph—CopjrifWj RUGBY, March 7. Mr Walter Runciman (president of the Board of Trade 1 informed the. House of Commons that _ negotiations with the visiting Brazilian' financial mission in regard to, liquidation of the Brazilian frozen trade debts to th* United Kingdom resulted in the formulation of certain proposals which the Brazilian Minister of Finance has undertaken to place before his Government on returning to Brazil. It is hoped that the agreement will be signed in the course of the next four, weeks. , . ♦As regards current traae, the Brazil lian Government had provided by law! that the exchange required to pay fo* goods imported after February 11* 1935, could be bought freely on the market. Accordingly, no further ar« reas due to exchange restrictions in respect to imports should arise. _ The Brazilian Government would maintain payments under the commercial arrears agreement of 1933 and payment of th« public debt service in accordance with the plan of February, 1934, by retaining a percentage of foreign exchange . resulting from all exports. His Majesty's Government made it clear that it had every desire to see trade between Britain and Brazil develop on the basis of a mutually beneficial exchange of goods and services.