HC Deb 26 November 1934 vol 295 cc478-9
8. Mr. REMER

asked the Secretary of State for Foreign Affairs whether he has any information as to the intention of the Bulgarian Government as regards default upon the Bulgarian 7 per cent. loan of 1923 on the ground of incapacity to continue payments on the present scale; and whether, as this loan was issued with the acquiescence of the financial experts of the League of Nations, he will say if a British representative was included among the League experts?


The Bulgarian Government have informed the representatives of the bondholders that they anticipate difficulty in continuing payments on their foreign loans on the present scale. They are at present in communication with the League Loans Committee in London in regard to the loans issued under the auspices of the League of Nation, namely, the 7 per cent. loan of 1926 and the 7½ per cent. loan of 1928. In reply to the second part of the question, the members of the Financial Committee of the League of Nations are experts drawn from various countries, including the United Kingdom, but do not sit in a representative capacity.