INFORMAL TALKS
PROBLEM OF STERLING BLOC REASON FOR COMMONWEALTH MEETING N.Z.P.A. Special Correspondent Rec. 10 p.m. LONDON, Sept. 4. Although the majority of London newspapers have been referring for several days to the financial talks between the United Kingdom and the dominions which will follow the meeting, of the board of the International Monetary Fund in London as “ the Commonwealth financial conference, in official circles it is emphasised that the meeting is not intended to be a full-scale Commonwealth financial conference but merely an opportunity for. informal discussions at * which financial advisers and experts of various dominions will be able to discuss c.ommon problems of the sterling bloc with the United Kingdom. The opportunity has occurred because in any event the majority of these advisers would come to London to attend the International Monetary Fund Board meeting. So far, New. Zealand, which is not a member of the fund, has not announced its representative at these informal talks. South Africa will be represented by the Governor of the South African Reserve Bank, Mr H. M. de Kock. and Dr J Holloway, secretary ;to the South African Treasury, Australia by the High Commissioner in London, Mr J. Beasley, and its commercial counsellor in Washington, Mr J. Bridgen, ana Canada by Mr Douglas Abbott, Minis-ter-of Finance, and Dr W. C. Clark, his deputy. ~ ... None of these representatives will have plenipotentiary powers but win merely report to their respective Governments upon facts and figures given to them by Mr Dalton and Sir Stafford Cripps. , , The political correspondent of the Daily Express reports that Sir Stafford Cripps will emphasise that the divertion of British goods to the Commonwealth to make up for reduced American imports -will seriously affect '.Sritain's prospects of recovery and \ie will appeal to Commonwealth Governments not to ask for any such diversion. What is needed is an all-rnv’-’d cut in dollar spending by the gto-Ung bloc. It is estimated that e--~t from Britain’s own dol’ar deficit, Empi’-e countries have been overipending in the United States at the rate of £100,000,000 anually.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19470905.2.44
Bibliographic details
Otago Daily Times, Issue 26558, 5 September 1947, Page 5
Word Count
341INFORMAL TALKS Otago Daily Times, Issue 26558, 5 September 1947, Page 5
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.