HC Deb 16 September 1931 vol 256 cc840-1
42. Dr. PHILLIPS

asked the Chancellor of the Exchequer what loans have been made since the beginning of 1919 to foreign Governments for the purpose of supporting the currencies of those countries; the interest payable in each case; and the country in which the loan has been raised?

Major ELLIOT

As the reply contains a large number of figures, I propose to circulate it in the OFFICAL REPORT.

Following is the reply:

The following is a List of the long term loans issued mainly or wholly for the purpose of currency stabilisation since 1919. Particulars are not available of banking credits which have been raised privately; and the recent Treasury operation, which was mainly in the form of a banking credit, is therefore also omitted.

Date. Borrowing Government. Total nominal amount of loan. Where issued.
1923 … … Austria … 650,000,000 (net) Gold Crowns 6 to 7 per cent. Great Britain and other countries.
1924 … … Hungary … 250,000,000 (net) Gold Crowns 7½ per cent. Do. do.
1924 … … Germany … £21,000,000 7 per cent Do. do.
1926 … … Belgium … $100,000,000 (net) 7 per cent. Do. do.
1928 … … Bulgaria … £5,000,000 (net) 7½ per cent. Do. do.
1928 … … Greece … £3,000,000 (net) 6 per cent. Do. do.
1927 … … Poland … £15,000,000 (approx.) 7 per cent. Do. do.
1929 … … Roumania … £16,000,000 (approx.) 7 per cent. Do. do.
1927 … … Estonia … £1,350,000 (net) 7 per cent. Great Britain and U.S.A.
1931 … … Yugoslavia … Frs. 1,025,000,000 7 per cent. Europe.