Costa Rica (Sterling Debt)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 16 April 1953.

Alert me about debates like this

Photo of Sir Edward Keeling Sir Edward Keeling , Twickenham 12:00, 16 April 1953

asked the Chancellor of the Exchequer what progress has been made in the settlement by Costa Rica of its debt.

Photo of Mr Reginald Maudling Mr Reginald Maudling , Barnet

In December last the Costa Rican Government stated that it was ready to begin discussions with the Council of Foreign Bondholders and hoped to arrive at a satisfactory settlement of the sterling debt as soon as possible along the same lines as the settlement of the dollar debt, now awaiting ratification. So far, however, the Costa Rican Government have failed to nominate any representative for the discussions.

Photo of Sir Edward Keeling Sir Edward Keeling , Twickenham

Is my hon. Friend aware that the American creditors, who have made an agreement, are no more long-suffering that the British creditors?

Photo of Mr Reginald Maudling Mr Reginald Maudling , Barnet

Yes, I am aware of this feature of the situation in which my right hon. Friend is taking a close interest.