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Credits (Eastern Europe)

Volume 928: debated on Monday 21 March 1977

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asked the Chancellor of the Exchequer what proportion of the total indebtedness of COMECON to major Western countries that has accrued since February 1974 applies to the United Kingdom; and what is the figure involved quoted in United States terms.

Approximately 22 per cent.—$5½ billion—of the increase of about $25 billion in total COMECON debt which was referred to in my reply to the hon. Gentleman's Question on 10th March 1977—[Vol. 927, c. 643–4]—is estimated to be due to the claims of creditors situated in the United Kingdom, including branches of overseas banks.