SOVIET WINS POINT
CONCESSIONS ON DEBT TALKS WITH BRITAIN (11 a.m.) WASHINGTON, Dec. 14. In the new Anglo-Russian trade agreement, the Russians won the debt concessions which they were refused in the abortive negotiations in July, stated the Sunday Times’ diplomatic correspondent. The outstanding amount of debt owing to Britain under the civil supplies agreement of 1941 has been considerably reduced to somewhere near £50,000,000. Russia will benefit from a four-year moratorium and the repayment period will be extended by five years to 12. Finally, the interest rate will be reduced from 2 per cent, to 1J per cent. Originally, it was 4 per cent. Failing any hitch the first shipment of grain for Britain should be available at Novorossisk In January.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22511, 15 December 1947, Page 5
Word Count
122SOVIET WINS POINT Gisborne Herald, Volume LXXIV, Issue 22511, 15 December 1947, Page 5
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