HC Deb 25 April 1932 vol 265 c52W

asked the Secretary of State for Foreign Affairs if he will ascertain why, although the State of Rio de Janeiro has deposited Brazilian currency in a South American bank, no payment has yet been made in discharge of the state's obligations to British investors; and will he inform the Brazilian Ambassador in London that the continued delay constitutes a hardship on those British subjects who have invested money in the State of Rio de Janeiro?


I am informed that the State of Rio de Janeiro has made a deposit in its own name of 3,000 contos of milreis with the British Bank of South America as a currency deposit in respect of its 1927 sterling loans, to be held pending the completion of an arrangement with regard to these loans. I am further informed that negotiations are proceeding on this subject, and that any developments will be notified to the bondholders as soon as possible. In view of the proof of good will given by the State of Rio de Janeiro in making this deposit, I do not consider that the action proposed in the second part of my hon. Friend's question could appropriately be taken.

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