25. Major WATT (for Mr. GRANVILLE GIBSON)
asked the President of the Board of Trade whether payment of £60,000 due on 15th May and a similar sum due on 15th June under the Anglo-Rumanian payments agreement has yet been made; whether there are yet any funds available to make any payments to creditors who have debts owing to them amounting to over £20; and whether all debts under £20 have yet been paid?
§ Lieut.-Colonel J. COLVILLE (Secretary, Overseas Trade Department)
The payments due on the 15th May and 15th June were £50,000 in each case, and the position remains as stated in the reply given on the 18th June to the hon. Member for Bradford North (Sir E. Ramsden). I am informed that the Rumanian National Bank has resumed, out of the sums already made available, the payments provided for in Article 1 of the Agreement; that is to say, debts of £20 and under are being paid in full, and £20 or 20 per cent., whichever is 934 the greater, is being paid in respect of debts exceeding £20. I am not in a position to say when these payments will be completed.