STERLING CREDITOR
FRANCE BUILDS UP FUNDS NZPA Special Correspondent Rec. 9.8 p.m. LONDON, Dec. 29. ITie financial editor of the Manchester Guardian says that France, which until last year had a substantial sterling deficit and was receiving special “ sterling drawings rights ” concessions from the British Treasury, has now suddenly emerged as a substantial sterling creditor with a balance estimated as at least £30.000,000 sterThis reversal is due partly to the effects of Britain’s sterling crisis, which caused many French merchants to transfer their sterling holdings to the French Treasury, and partly to rising French production, which has now so improved that France is able to pay her way in every currency'ex*cept dollars.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19491230.2.49
Bibliographic details
Otago Daily Times, Issue 27276, 30 December 1949, Page 5
Word Count
112STERLING CREDITOR Otago Daily Times, Issue 27276, 30 December 1949, 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.