TRADE
LONDON: Britain and Portugal have reached a new trading and monetary . agreement ’.jfhich wjjM mean increased Portuguese, imports and also that neither party draws bn gold reserves. The official announcement shows that the agreement was reached as Portugal’s sterling balances reached the limit of £5,000,000 permitted under the 1947 agreement. If Britain had made any further purchases from Portugal while trading continued in Portugal’s favour, she would have been forced to use gold reserves. An authoritative British source said Portugal behaved extremely well over the agreement.
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Northern Advocate, 14 January 1948, Page 2
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87TRADE Northern Advocate, 14 January 1948, Page 2
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