BRAZILIAN DEBT
SUSPENSION OF PAYMENT BOND HOLDERS’ VIEWS [ British Official Wireless.] RUGBY, Nov. 17. It is stated in London that the Council of Foreign Bond Holders, who for some time have been negotiating with the Brazilian Government, wish it to be known that the President's announcement that payment of interest and amortisation on the Brazil external debt would be temporarily suspended pending further examination had in no way been indicated by the course of these negotiations. In this unexpected situation the council at once made emphatic representations to the Brazilian Government. In the view of the council, there is not sufficient economic justification for the suspension of existing payments, and such unilateral suspension at a time when negotiations are actually in progress for the future of the debt service would be particularly damaging to Brazilian credit. The council also emphasised the extent of the sacrifices already made by bond-holders under the existing plan. The council understands the bondholders’ association of the United States, France, and Holland have made similar representations to the Brazilian Government, a reply to which is now being awaited.
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Bibliographic details
Wanganui Chronicle, Volume 80, Issue 275, 19 November 1937, Page 7
Word Count
182BRAZILIAN DEBT Wanganui Chronicle, Volume 80, Issue 275, 19 November 1937, Page 7
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