Peruvian Debt Forgiven

Published: Thu 22 Jul 1999 12:24 AM
Peruvian Debt Forgiven
Treasurer Bill English announced today that a long-standing debt of $14 million owed by Peru had been forgiven.
A letter from Mr English to the Peruvian Minister of Economics and Finance was delivered by Trade Minister Lockwood Smith during his visit to Peru this week.
"The debt is the outstanding amount of principal and unpaid interest from loans made in the early 1970s to finance the sale of dairy product to Peru.
"It is the only sovereign loan owing to New Zealand and has already been written off in the Crown Accounts.
"The Government decided that, building on the recent successful visit of the Prime Minister to Peru, it was appropriate to forgive the debt in recognition of Peru's successful economic reform programme and the interests the two countries share in furthering international trade liberalisation," said Mr English.

Next in New Zealand politics

Proposed Hate Speech Laws A Step Too Far
By: New Zealand National Party
Government To Phase Out Live Exports By Sea
By: New Zealand Government
New Zealand’s New Housing Policy Is Really Just A New Tax Package — And It’s A Shambles
By: The Conversation
ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform
By: The Conversation
Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint
By: New Zealand Police
Drug-testing Law To Be Made Permanent
By: New Zealand Government
Minister Must Tell Us If He's Parked Hate Speech Laws, Or Not
By: ACT New Zealand
Emotive Live Export Ban A Kick In The Guts
By: ACT New Zealand
World Leading Live Export Ban Means Thousands Of Animals Will No Longer Suffer Overseas
Feds: Live Export Ban 'surprising'
By: Federated Farmers
Photographs Taken At Police Checkpoint Unlawful
By: Independent Police Conduct Authority
View as: DESKTOP | MOBILE © Scoop Media