Mo Breach Of Geneva Pact
WELLINGTON, Mon. (Sp.).—“lt has been suggested that the action taken by the New Zealand Government to appreciate the value of our currency might be cct.itrary to the General Agreement on Tariffs and Trade made at Geneva last October and ratified here early this year,” said the Minister of Finance (Mr Nash) in his broadcast address last night on the effects of the exchange rate decision. “'I his is not the case.
“There is provision in the Geneva Agreement that parties thereto shall not by exchange action frustrate the principles of the agreement. These principles are all in the direction of encouraging trade, and the action that was taken last Thursday night will be to facilitate imports. That is precisely what the Geneva Agreement is designed to do.”
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Bibliographic details
Northern Advocate, 23 August 1948, Page 3
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132Mo Breach Of Geneva Pact Northern Advocate, 23 August 1948, Page 3
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