EXTERNAL DEBT.
BRAZILIAN PAYMENT SUSPENDED. (British Official Wireless.) RUGBY, Nov. 16. It is stated in London that the Council of Foreign Bond Holders, who for some time have been negotiating with the Brazilian Government, wish it to be known that the President s announcement that payment or in er est and amortisation on the Brazil external debt would bo temporarily suspended pending furtter examination had in no way been indicated b> the course of these negotiations, in this unexpected situation the counc 1 at once made emphatic representations to the Brazilian Government. In the view of the council there is not sufficient economic justification for the suspension of existing payments, and such unilateral suspension at a time when negotiations axe actually in progress fdr the future of the debt service would be particularly damaging to Brazilian credit. The council also emphasised the extent of the sacrifices already made by bond-holders under the existing plan. The council understands the bondholders’ associations of the United States, France and Holland have made similar representations to the Brazilian Government, a reply to which is now being awaited.
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Bibliographic details
Manawatu Standard, Volume LVII, Issue 300, 18 November 1937, Page 11
Word Count
183EXTERNAL DEBT. Manawatu Standard, Volume LVII, Issue 300, 18 November 1937, Page 11
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