WAR DEBT PAYMENT

Evening Star, Issue 21742, 9 June 1934, Page 15

WAR DEBT PAYMENT

ITALY'S DECISION FOLLOWING BRITAIN'S LEAD (British Official Wireless.) Pres* Association—By Telegraph—Copyright. ROME, June S. According to ‘ Giornale cli Genoa,’ Italy, like Britain; has decided to suspend war debt payments to the United States pending a final settlement. Italy, hitherto has followed Britain’s lead in making token payments. NEW ZEALAND’S POSITION i .ii—n , [Pan United Press Association.] WELLINGTON, June 8. The decision of the British Government to defer payment to America of the June instalment of the war debt will have the effect of saving New Zealand the necessity for finding her share of the payment, amounting to over £BOO.OOO. Under an agreement with the Imperial Government, signed on September 6, 1922, New Zealand makes two half-yearly payments of £825,965 made up of interest and principal. The last payment made by New Zealand under the terms of the agreement was on June 1, 1931, when £604,930 w'as paid in interest and £221,035 in capital. This left the debt outstanding at £24,100,199. Following on the Hoover moratorium the Imperial Government agreed to postpone the instalments of interest and principal due in December, 1931, and June, 1932. A further postponement for one year frbm July 1, 1932, was agreed to by the Imperial Government, and no payment was therefore made in 1932-33.