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Comecon

Volume 929: debated on Monday 28 March 1977

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asked the Chancellor of the Exchequer (1) what is now the total indebtedness of the Union of Soviet Socialist Republics and the members of the COMECON, listed separately and in United States $ terms, as the result of medium and long-term credits granted to them since 1st August 1975 by major Western creditor countries generally and specifically by the United Kingdom;(2) what proportion of the total indebtedness of COMECON to the United Kingdom that has accrued since February 1974 was calculated in sterling for repayment purposes; what has been the average rate of interest on these loans and their average duration terms capital before redemption; what was the relevant exchange rate of sterling vis-à-vis the rouble at the time; and what is the comparable rate today.