HC Deb 05 April 1989 vol 150 cc196-7W
Mr. Battle

To ask the Secretary of State for Foreign and Commonwealth Affairs what information he has on the arrangements for repayment of the Brazilian debt to United Kingdom banks, at what rate of interest, and over what period of time.

Mrs. Chalker

I understand that the repayment of Brazil's debt to United Kingdom banks is largely determined by the financing agreement they signed in September 1988; under which the majority of Brazil's debt was rescheduled over 20 years with seven years' grace. The interest rate charged will be LIBOR + 13/16 per cent.

Mr. Battle

To ask the Secretary of State for Foreign and Commonwealth Affairs what is the total debt of the Brazilian economy to United Kingdom banks.

Mrs. Chalker

Consolidated claims of United Kingdom-registered monetary sector institutions on Brazil are shown in table 15 of the Bank of England quarterly bulletin. The exposure of individual banks is not a matter for the Government.

Mr. Battle

To ask the Secretary of State for Foreign and Commonwealth Affairs what information he has on the Brazilian debt owed to each United Kingdom bank both actual and as a percentage of the total debt.

Mrs. Chalker

Consolidated claims of United Kingdom-registered monetary sector institutions on Brazil are shown in table 15 of the Bank of England quarterly bulletin. The exposure of individual banks is not a matter for the Government.

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