Exchange Pool to Provide Government With £14,000,000
TO MEET OVERSEA COMMITMENTS. Per Press Association. WELLINGTON, Last Night. Approximately £14,000,000 will be required during the present calendar year out of tho recently-established exchange crodit pool to meet the Government and local body interest- charges overseas. This sum includes £8,000,000 in respect of interest on Government loans, £4,000,000 for the redemption of Treasury bills falling due next June, and between £1,500,000 and £2,000,000 for interest on local body loans. Tho Government needs arc fairly accurately known and the total is set at £12,000,000. Tho local body requirements are not known exactly, but are estimated to be between £1,500,000 and £2,000,000. It is explained that lirms acting both as exporters and importers who have offices in the Dominion and England may make arrangements with tho banks to meet their payments in England.
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https://paperspast.natlib.govt.nz/newspapers/MT19320105.2.20
Bibliographic details
Manawatu Times, Volume LV, Issue 6748, 5 January 1932, Page 6
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139Exchange Pool to Provide Government With £14,000,000 Manawatu Times, Volume LV, Issue 6748, 5 January 1932, Page 6
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