REPAYMENT MADE
WAR DEBT TO BRITAIN STATEMENT BY MR. FRASER ;P.A.) WELLINGTON. Tuesday The acting-Minister of Finance, the lit. Hon. P. Fraser, said to-day that in view of the satisfactory state of the Dominion's sterling balances opportunity had been taken of repaying a further £8,000,000 sterling of the memorandum of security indebtedness to the United Kingdom Government. Mr. Fraser explained that this debt was incurred practically 011 an overdraft basis, mostly to finance the maintenance of the New Zealand Division serving in the Middle East. Repayments are made as and when sterling funds are available for the purpose. Of the tofal borrowed from the beginning of the war to December last, amounting to £20,221,000 sterling, £19,413,000 sterling has now been repaid. leaving a balance as at that date of £BOB,OOO.
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Bibliographic details
New Zealand Herald, Volume 80, Issue 24540, 24 March 1943, Page 4
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130REPAYMENT MADE New Zealand Herald, Volume 80, Issue 24540, 24 March 1943, Page 4
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