REPAYMENT OF DEBT
SOUTH AFRICA'S DECISION
(British Official Wireless.)
RUGBY, August 30,
A Treasury announcement states: “At the end of the war, the Union of South Africa owed some £10,500,000 to this country in respect of war debt, which, by 1931, had been reduced by repayments to £7,500,000. The sum of £337,500 is payable annually on account of interest on the debt. When the suspension of intergovernmental debts was agreed upon Under the Hoover Moratorium and the arrangements afterwards made at the Lausanne Conference, South Africa generously decided not to avail herself of the offer to suspend this war debt payment, and. has continued it regularly up to the present time. His Ma jesty’s Government in the Union has now expressed the desire to repay the whole debt outstanding—namely, £7,500,000 —on August 31, and his Majesty’s Government in the United Kingdom has gratefully accepted the offer.”
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Bibliographic details
Otago Daily Times, Issue 22356, 1 September 1934, Page 15
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146REPAYMENT OF DEBT Otago Daily Times, Issue 22356, 1 September 1934, Page 15
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