BRAZIL’S EXTERNAL DEBTS

Nelson Evening Mail, Volume LXXI, 18 November 1937, Page 6

BRAZIL’S EXTERNAL DEBTS

SUSPENSION or INTEREST PAYMENT REPRESENTATIONS BY BONDHOLDERS ilinlish Ollicial Woclw-h ■ Received IMtli November, 0(1 am.) RUGBY Kith November. It is staP’d in London that the Conn eil of foreign Bondholders who for same lime have been negotiating with the Brazilian Government, wish it to be known that the President’s an iiouncement that inyment of interest debt would be temporarily suspended pending further examination nad in and amortisation on the Brazil external

no way been ind'cated by the course of these negotiations In this unexpected situation tiic council at once mad: 1 emphatic representations to the Brazilian Government. In the view of flic council, there 's not sulTicient economic justification for the ssuper.sion ot existing payments, and such unilateral si sponsion at a time when negotiations are actually in progress to- the future of the debt service would be particularly damaging ! to Brazilian credit The council a iso emphasised the extent ol the sacrifices already made b.\ i bondholders under the existing plan ' Teh council understands the bond--•.'ders' associations of the United States Eranee and Holland have made ; similar representations to the Brazilian i Government, a reply to which is now I being a waite