§ Rear-Admiral Morgan Gilesasked the Secretary of State for Trade why the Export Credits Guarantee Department is allowing a maximum credit of 180 days for Chile, in the light of the fact that foreign firms competing with British industry for orders in Chile can obtain five years credit cover.
§ Mr. MeacherExport Credits Guarantee Department cover for exports to Chile has been restricted to short-term credit transactions since 1972, when the Chilean Government defaulted in respect of its commercial debts. A large part of the substantial claims payments met by the Department at that time still remains to4W be recovered but the situation is being kept under constant review.