HUNGARY’S PLIGHT.
MORATORIUM DECLARED. FOREIGN DEBT TRANSFERS. United Press Assn.—Elec. Tel. Copyright. BUDA PEST, Dec. 22. Hungary, whose foreign indebtedness is about £160,000,000 has declared a moratorium for a year on standstill and all private short-term debts for six months. Exceptions lo the former moratorium are the League of Nations loan of 1924 and the recent loan of £5,000,000 supplied almost entirely by the French banks. LONDON, Dec. 23. Bankers in London were prepared for Hungary’s partial moratorium. The short-term indebtedness held here totals about £36,000,000. ’ Hungary’s total foreign indebtedness was recently given in the Economist at £l4 7,384,000, of which £58,644.000 represented State obligations, £18,612,000 debts of public bodies, and £70,128,000 the banking and commercial indebtedness. Of this total, £93,744,000 were long-term drills and £53,640,000 medium and short-term obligations, of which it was estimated that at least■ £36,000,000 would fail due for repayment in the course of the next 12 months. Hungary's total annual charge for in I crest and amortisation was not far short of £10.800,000, I lie Stale's liability being £2,925,000 for long-term and £548,000 for shorl-lorm debts.
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Waikato Times, Volume 110, Issue 18518, 24 December 1931, Page 8
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181HUNGARY’S PLIGHT. Waikato Times, Volume 110, Issue 18518, 24 December 1931, Page 8
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