• Short Summary

    CENTRAL BANKERS FROM EUROPE, THE UNITED STATES, JAPAN AND SOUTH AFRICA ARE MEETING IN BASLE THIS WEEK-END TO DISCUSS A NUMBER OF IMPORTANT MEASURES.

  • Description

    CENTRAL BANKERS FROM EUROPE, THE UNITED STATES, JAPAN AND SOUTH AFRICA ARE MEETING IN BASLE THIS WEEK-END TO DISCUSS A NUMBER OF IMPORTANT MEASURES. THE MOST OUTSTANDING ONE IS SAID TO BE THAT OF CONSIDERING THE PROVISION OF INTERNATIONAL GUARANTEES TO PROTECT BRITAIN AGAINST WITHDRAWALS OF STERLING BALANCES. THIS MEANS THAT BRITAIN WOULD BE PROVIDED WITH A LONG TERM LOAN OF GBP600-MILLION STERLING OR MORE FOR UP TO 20 YEARS. SUCH A LONG TERM LOAN WOULD PARTLY OVERCOME BRITAIN'S NEED TO REPAY NUMEROUS SHORT-TERM LOANS -- AS SHE DOES AT PRESENT -- TO COVER ITS LIABILITIES.

    THIS WEEK'S CREDIT FROM THE INTERNATIONAL MONETARY FUND OF GBP583-MILLION STERLING TO BRITAIN AND GBP310-MILLION STERLING TO FRANCE IS LIKELY TO HAVE BEEN DISCUSSED. BUT IT IS THOUGHT THAT FRANCE'S PRESENT ECONOMIC SITUATION AND FOREIGN EXCHANGE RESTRICTIONS ARE ONLY BEING TALKED ABOUT INFORMALLY. AN INTERESTING SIDELIGHT IS THE PRESENCE OF THE GOVERNOR OF THE SOUTH AFRICAN RESERVE BANK, DR. THEUNIS DE JONGH. THERE HAS BEEN SPECULATION THAT HE IS SOUNDING OUT OTHER CENTRAL BANKERS' FEELINGS ON SOUTH AFRICA'S FUTURE GOLD SELLING POLICY. SOUTH AFRICA HAS NOT YET COMMITTED ITSELF AS TO WHETHER IT WILL CONTINUE TO SELL GOLD AT THE CENTRAL BANK'S OFFICIAL FIGURE OF 35 DOLLARS AN OUNCE OR AT THE "FREE" RATE.

  • Tags

  • Data

    Film ID:
    VLVA41WQBFRRLZU0GJBRM1YO2DXKD
    Media URN:
    VLVA41WQBFRRLZU0GJBRM1YO2DXKD
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    08/06/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:16:00
    Time in/Out:
    /
    Canister:
    N/A

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