The Archive · 1938

Reduction of Arrears

Under the supplementary agreement, imports from the United Kingdom into Turkey for which payment is provided by the compensatory e: port of Turkish goods to this count i and as from July Government will arrest ae ations of fresh arr by limiting exports where their value does not exceed £500,000. this being the estimated value of sterling that becomes available. vision is also made for the apation of a substantial sum to duce the volume of outstanding rears "The third agreement enables kish orders for warships and other terials to be placed in this country on credit terms, on the general securi y of the Turkish program-e of e mamie development.

"It provides for these credits to be guaranteed by H. M. Government. the Prime Minister concluded Reuter

Text read from the printed page and cleaned; old type leaves the occasional error.

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