HC Deb 24 March 1927 vol 204 cc591-2W

asked the President of the Board of Trade if any loss has been incurred by defaults under the exports credits schemes in connection with guarantees given for transactions with Poland, Lithuania, Latvia, or Estonia; and, if so, the amount of the loss for each country concerned?


The amounts written off as loss during the last six years in connection with guarantees given for transactions with Poland is £628. Nothing has been written off as loss on transactions with Lithuania, Latvia or Estonia. Payments have, however, been made by the Department under guarantees given for certain transactions with the countries to which the hon. Member refers. The net amounts now outstanding are

Poland 25,071
Lithuania Nil.
Latvia 5,898
Estonia 818

Recoveries are still being obtained against these amounts, and it is therefore not possible to state what the ultimate net losses will be.

No losses have been incurred or payments made in connection with guarantees given in respect of these four countries under the new Export Credits Guarantee Scheme which became operative in July, 1926.