HC Deb 18 June 1935 vol 303 cc164-5
16. Sir E. RAMSDEN

asked the President of the Board of Trade when it is expected that payments will commence under the recently concluded Anglo-Brazilian debt agreement; and whether the sum of £1,000,000 is yet available for that purpose?


The cash payments provided for in Article 4 of the Anglo-Brazilian payments agreement will begin as soon as the necessary particulars regarding the arrears, which are now being collected as rapidly as possible by the Board of Trade and the Bank of Brazil, have been checked and analysed, and when the basis of distribution has been agreed with the Brazilian Government, as provided for in the Article. This process must inevitably take some little time. I have no reason to suppose that the £1,000,000 will not be available as soon as required.


May I ask whether any part of this £1,000,000 under the agreement of 27th March this year will be taken from the exchange already allotted to earlier British creditors?


I am afraid I could not answer that question without notice.