THE LONDON FUNDS
SLOWNESS OF RECOVER?
EFFECT OF HEAVY IMPORTS CONFIDENCE IN CONTROL PLAN "The London funds should have faster in normal circumstances, but the tremendously heavy-imports in December, which set a. record in their excess over exports, delayed the seasonal building up of the funds," said the Minister of Finance, the Hon. W Xash. yesterday. Mr. Nash added that although the funds had not yet improved to the degree expected by the Government when exchange control was introduced early in December, he was confident that the im-;., port licensing would ultimately re&ft|| in an improvement enabling New Zealand to meet all future oversea.® commitments The Minister said that there had been othei factors affecting the slowness of the recovery. However, the control system was gradually arresting the drift in the manner intended.
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Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23275, 18 February 1939, Page 12
Word Count
133THE LONDON FUNDS New Zealand Herald, Volume LXXVI, Issue 23275, 18 February 1939, Page 12
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