‘No Threat To Move Reserves’
(New Zealand Press Association)
WELLINGTON, July 10. Nothing he said in London meant that New Zealand might move its sterling reserves from Britain, Mr Marshall said.
Commenting on interpretations of a statement he made in London, Mr Marshall said he told a press conference that New Zealand, by holding its reserves in London, contributed to the sterling area, and that was a factor that should be taken into account by the British Government in lending money overseas.
continue in future to look to Britain for substantial capital loans,” Mr Marshall said. New Zealand's reserves In London were a factor which other countries might well raise if New Zealand had to rely on new sources of borrowing, he said. The country from which New Zealand borrowed might well ask that the money not be remitted to London, said Mr Marshall.
“I also made clear that I believed New Zealand would
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Press, Volume CVI, Issue 31108, 11 July 1966, Page 1
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154‘No Threat To Move Reserves’ Press, Volume CVI, Issue 31108, 11 July 1966, Page 1
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