Paris, Sept. 19--A conversion loan estimated in financial circles tonight to be around 5,000,000,000 francs (about $334,000,000) will be placed on the market by the government tomorrow.
Finance minister Louis Germain-Martin said it was to enable the treasury to meet maturing obligations. The loan matures in three, six and 10 years.
"Coupled with balancing the budget," Germain-Martin said, "repayment of the Clementel bonds and other maturities will enable France to look to the financial future with confidence, and achieve the last phase of restoration of her national finances."
Advertisement
Want to keep up with breaking news?
Subscribe to our email newsletter.
Read more in News
COURSE CHANGES
