§ Sir A. Spearmanasked the Chancellor of the Exchequer whether he will make a statement regarding an early repayment of the loan of $250 million advanced to Her Majesty's Government by the Export-Import Bank in October, 1957.
Mr. AmoryI have arranged to repay the loan in full today. Under the terms4W of the Agreement, repayment was due to begin in October, 1960, and to end in April, 1965, but I felt able to make a repayment in full in advance of the due dates in view of the more favourable external financial position of the United Kingdom. The Export-Import Bank has declared its willingness to reinstate on request such part of the $250 million loan as would not, at the time of the request, have been repaid under the original agreement, and to do so on the terms of the original loan.