HC Deb 22 February 1938 vol 332 cc193-4
54. Sir N. Grattan-Doyle

asked the Financial Secretary to the Treasury the approximate total nominal capital of loans, still in issue, obtained in London by the Brazilian Government, states, municipalities, and public utility concerns, for the development of Brazilian resources which are affected by the Brazilian Government's repudiation of contractual obligations?

Lieut.-Colonel Colville

The decision taken by the Brazilian Government in November last to suspend the service of the External Debt covered federal, state and municipal loans, but not the obligations of public utility concerns. The outstanding nominal capital amount of the sterling loans issued in London which are for this purpose included in the external debt is about £158,000,000, of which it is estimated that from £60,000,000 to £70,000,000 is owned by British holders.