Statement By Mr. Savage
[Sjyecial to “Northern Advocate”l WELLINGTON, This Day. “The United Kingdom Government has agreed that the facilities of the Export Credit Guaranteed Department will be made available to assist in the financing of imports of United Kingdom origin, and that credit up to £5,0000,000 sterling will be made available on approved conditions for purchase by the New Zealand Government,” said the Prime Minister, Mr Savage, yesterday, in connection with the outcome of Mr Nash’s visit to London. “Short-term credit facilities up to an amount of 4,000,000 sterling will also be made available under suitable conditions to cover approved exports f>rom the United Kingdom to importers in New Zealand other than the Government. “This means that importers holding licenses can be assured that, providing they pay the equivalent New Zealand currency for imports at the date due, the obligation to pay the United Kingdom exporter in sterling will be accepted by the New Zealand Government as sterling funds are available. “The United Kingdom Government Export Credit Guarantee Department has rhade arrangements under which United Kingdom exporters will be protected by means of a guarantee which will ensure their receiving sterling at th expiry of a reasonable period from the date of payment in New Zealand.”
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https://paperspast.natlib.govt.nz/newspapers/NA19390722.2.96
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Northern Advocate, 22 July 1939, Page 8
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207Statement By Mr. Savage Northern Advocate, 22 July 1939, Page 8
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