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Catalogue reference: INF 14/431
This record is about the 'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville... dating from 1958 in the series Ministry of Information and Central Office of Information: Publications Division:.... It is held at The National Archives, Kew.
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'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville Garner, K.C.M.G., the United Kingdom High Commissioner in Canada (right) hands over a cheque for $7.5m to Mr. Donald Fleming, the Canadian Minister of Finance at a ceremony in Ottawa recently. The cheque was the final payment on the $700m interest free loan which was first arranged in 1942 with the Canadian Government. The loan represented a funding of advances made to the United Kingdom in the war-time period preceding arrangements for Mutual Aid. The loan was reduced to about $189m by June 1953 through crediting dollars received by United Kingdom holders of Canadian securities either on voluntary sale or redemption. In 1953, a new arrangement released the United Kingdom from the need to apply the net proceeds of sales or redemptions of Canadian securities. An immediate lump sum payment reduced the outstanding loan to $150m, repayable in 20 equal quarterly payments.'
INF 14
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Ministry of Information and Central Office of Information: Publications Division:...
'Final payment of Canadian war loan'. 'Britain Repays Canadian Loan. Sir Seville...
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