Anglo-Egyptian Financial Agreement

HC Deb 17 July 1947 vol 440 cc62-3W

61. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer the amount to be released to the Royal Egyptian Govern talent under Article 6 (a) and 6 (b), respectively, of the Annex to the Anglo-Egyptian Financial Agreement.

Mr. Glenvil Hall

Under 6 (a) about £12 million, but only a small part of this is likely to fall due during the currency of the Agreement. Under 6 (b) payments must be made and statements submitted by the Egyptian Government before any amounts are released. No such claims have yet been received.

62. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer what balance under the Hard Currency Agreement will become available to the Royal Egyptian Government under Article IV 1 (b) of the Anglo-Egyptian Financial Agreement.

Mr. Glenvil Hall

Not more. I estimate than £500,000.

63. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer if he will now give an estimate of the total amount of convertible currency to be released to Egypt by 31st December, 1947, under the Anglo-Egyptian Financial Agreement.

Mr. Glenvil Hall

I would refer the hon. and gallant Member to the figures contained in the Agreement. These are maxima.