£1,000,000 CREDIT?
WOOL FOR CZECHS NO OFFICIAL COMMENT (P.A.) DUNEDIN, Dec. 17. Although official comment has been withheld in the meantime, it is possible that a loan of £1,000,000 has been made by New Zealand to Czechoslovakia to enable her, to buy produce from the Dominion. Advice ■ that a loan of this amount has been made to, Czechoslovakia was received by cablegram by a business man, who believes that the loan _is mainly for the purpose of allowing Czechoslovakia to buy New Zealand wool. The report was referred to the acting Minister of Finance, Mr. A. H. Nordmeyer, who said he had no comment to make on the subject at present. It is significant, however, that the Minister of Finance, Mr. W. Nash, is _at present overseas at conferences dealing with international trade. A financial agreement designed to facilitate the sale of New Zealand wool to France was announced in July last, by which a credit of un to £5.000,000 was made available to France for the purchase of New Zealand produce. The agreement was designed to cover the five-year period up to June 30, 1952. The total advances are to be repaid not later than December 31, 1957, with interest at the rate of 24 per cent.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22513, 17 December 1947, Page 8
Word Count
208£1,000,000 CREDIT? Gisborne Herald, Volume LXXIV, Issue 22513, 17 December 1947, Page 8
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