§ Sir A. Spearman
asked 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.
I 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.