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HONG KONG MORA
MORATORICAL
TO CONTINUE
HONG KONG, 20th July.
The moratorium in Hong Kong will not be lifted until a decision has been reached on the relationship of debtors and creditors. This was announced by the Financial Secretary before the Legislative Council yesterday.
His announcement was made in reply. to a question 'as to whether, in view of the improvement in trade and general economic conditions, the Government would state whether they would lift the moratorium on financial institu- tions. The Government statement: pointed out that the moratorium did not prevent the voluntary payment of debts but merely meant that for the time being legal steps could be taken to recover pre-war debts.-Reuter.
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Ref.:
CO 537/1374
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