HC Deb 02 April 1953 vol 513 cc1348-9
29. Sir Edward Keeling

asked the Chancellor of the Exchequer whether he is aware that although the Peruvian Government has ratified its agreement with the Foreign Bondholders' Protective Council, New York, for the settlement of its debt, it has not yet come to any agreement with the Council of Foreign Bondholders for payments to be made to holders of sterling bonds; and whether he will make a statement.

The Economic Secretary to the Treasury (Mr. R. Maudling)

I am aware that the Peruvian Government has ratified its agreement for the settlement of its dollar debt, and strong representations have been made that the sterling debt should also be settled. I am not without hope that these may prove effective, but I have no statement to make at present.

Sir E. Keeling

Do I take it that my hon. Friend agrees that Peru is not being quite fair to British bondholders at present?

Mr. Maudling

Strong representations have been made to them that they should consider the sterling bondholders better than they have been doing.