SUPPLEMENT TO EC -41 Public Disclosure Authorized

This report is not to be published nor may it be quoted as representing the Bank's views.

Public Disclosure Authorized INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

SURVEY OF PUBLICLY-HELD FOREIGN GOVERNMENT BONDS

PART II - BONDS ISSUED IN EUROPE

SUPPLEMENT

STATISTICAL TABLES Public Disclosure Authorized Public Disclosure Authorized

January 28, 1955

Economic Staff Publicly-Held Foreign Bonds; Part II, Issues in Europe

List of Tables

General Notes

Tables: National and Government Guaranteed Bonds of IBRD Member Countries 1-a: Principal amount outstanding December 31, 1945 1-b: Principal amount outstanding December 31, 1952 1-c: Changes in principal amount outstanding Dec.31/45 to Dec.31/52 Bonds of Political Subdivisions of IBRD Member Countries 2-a: Principal amount outstanding Deoember 31, 1945 2-b: Principal amount outstanding December 31, 1952 2-c: Changes in principal amount outstanding Dec.31/45 to Dec.31/52 National and Government Guaranteed Bonds of Countries not Members of IBRD 3-a: Principal amount outstanding December 31, 1945 3-b: Principal amount outstanding December 31, 1952 3-c: Changes in principal amount outstanding Dec.31/45 to Dec.31/52 Bonds of Political Subdivisions of Countries not MIembers of IBRD h-a: Amount outstanding December 31, 1945 h-b: Amount outstanding December 31, 1952 4-c: Changes in principal amount outstanding Dec.31/45 to Dec.31/52

5: National and Government Guaranteed Bonds and Bonds of Political Subdivisions of IBRD Member Countries - Summary of treatment of bonds outstanding during the period Dec.31/45 to Dec.31/52

6: National and Government Guaranteed Bonds and Bonds of Political Subdivisions of Countries not members of IBRD - Summary of treatment of bonds outstanding during the period Dec.31/45 to Dec.31/52_

7: National and Government Guaranteed Bonds of IBRD Member Countries - Prices and Yields 1945-1954

8: National and Government Guaranteed Bonds of Countries not members of IBRD - Prices and Yields 1945-1954 General Notes

1. Bonds As used in this study, the word "bonds" refers to publicly-issued loan capital.

9. V,arket of issue For the ihost part the bonds included in this part of the study (Part II) were issued in various markets in Europe. As information on the market of issue in most cases was very incomplete or not readily available, bondg issued in all countries except the United States (already covered in Part I) were included. It is believed that only a very small portion of these bonds were issted outside of Europe and therefore the title "issued in Europe" on the following tables should be substantially correct.

3. IBRD meniber cQuntries In the tables the borrowing countries have been divided into IBRD member countries and countries which are not mermbers of the Benk according to their status as of December 31, 1952. Since member countries accept mem- bership in the Bank both on their own behalf and in respect of all their colonies, overseas territories, all territories under their protection, suzerain. ty, or authority and all territories in respect of which they exercise a mandate, the latter have also been included with the members.

Indonesia, which was included in the tables showing countries which are not members of the Bank as of December 31, 1952, was admitted to member- ship on April 15, 1954. Although Haiti and Israel have also become members of the Bank since December 31, 1952, these countries did not have any external bonded indebtedness and were therefore not included in these tables. Czechoslovakia, which was formerly a member of the Bank, ceased to be a member on December 31, 1954.

The Sudan has not been included in the tables in view of its transitional status which is at present governed by the Anglo-Egyptian Agreement of February 12, 1953. The external indebtedness of the Sudan includes bond issues amounting to £ 6,340,000 ($25,550,000) on December 31, 1945, and £ 5,080,000 ($14,224,000) on December 31, 1952. During the intervening period, bonds amounting to £ 1,260,000 ($5,078,000) were retired. In addition to the bond retirements a reduction of $6,248,000 in the dollar equivalent of the total was due to the devaluation of the pound.

4. Exchange rates The following principles were followed in converting outstanding amounts in other currencies to U.S. dollhrs:

a. Except as otherwise provided below conversions as of December 31 of 1945 and 1952 were made at ILT par values or at current rates of exchange, if there was no par value, as of each of those dates. -2-

4. (Continued) b, If a bond is payable in more than one durrency at the current market rate, conversion of the original currency of denomina- tion was made at the International .onetary Fund par value. In absence of a par value, conversions were made at the official rate or current rate as shown in "International Financial Statistics"v, a publication of the International Monetary Fund.

c. If a bond is payable in more than one currency and specific rates of relationship between the currencies are stated in the contract, the IMF par value or current rate for the least depreciated currency wes used. For example, if-the bond in- denture states that the bond is payable in pounds sterling, French francs or reichsmarks at £ 1 = fr 25 = RM 20, the ster- ling value, being the highest, was converted to U.S. dollars. Furthermore, when optional payment was specified in dollars, the dollar rate stated in the contract was used. For example, if the contract of a sterling bond stated that payment would be made in pounds sterling or U.S. dollars at £ 1 = $4.8665, the sterling principal amount was converted at this rate.

d. Bonds payable in gold were converted at the dollar value,at the time of issue of the bond, of the gold content of the cur- rency as specified in the contract. For example, bonds payable in gold francs were converted at fr 1 = $0.193 for bonds issued before 1926 and at fr 1 = $0.0663 for bonds issued in 1926 or thereafter.

e. Whenevrer a multiple or optional currency clause or a gold clause was altered or reinterpreted by a debt settlement plan, the terms of the plan were followed in converting to U.S. dollars.

5. Bond prices and yields As far as possible in selecting bonds for the tables of prices and yields, an attempt was made to find bonds which were generally representative of the bonds of the country. The best possible combination of the following qualifications was sought:

a. Largest amount outstanding in the hands of the public b. Reasonably active trading c. Lack of special features, such as currency clauses, which might distort the price. d. Long maturity.

6. Limitation of responsibility These tables were compiled to show the status of and changes in external bonded indebtedness from 1945 to 1952. For this purpose it was necessary to arbitrarily classify bonds, select exchange rates and interpret the settlement and disposition of debts in many cases, as reEsonably as pos- sible under the circumstances, when the actual status of bonds is contro- versial or has not yet been definitely established. Therefore, no official opinion, interpretation or suggestion on the part of the Bank should be implied as to the legal status or disposition, past or fuitlure, of these bonds. July 21, 1954 Table 1-a: PUBLICLY-HELD FOREIGN BONUS; PTR? II, ISSUES IN EUROPE

National and Goveraument Guaranteed Bonds of IBERD M4ember Countries

Princinal amount outstanding December 31. 1945

(In thousands of U.S. dollar equivalents)

Page 1

Bonds subject to service under original contract or adjustment i-ba Bonds in default as to lorrowing cormtry aad Total Pull service current Set; e2ient One or more Only currency of denomination bonds Total Total Under Under Unassented agreed but Total of interest, principal original adjustment fraction not yet principal or or sinking contract plan effective sinking fund fund Total 5,166,043 3a254,125 2,974,170 2, 49 9 ,840 474,330 279,955. 1,911,918 1,814,559 97,359 U.S. dollars 74,119 2,121 2,121 2,121 - 71,998 71,438 560 Canadian dollars 9,507 9,157 9,157 9,157 - - - 350 350 - Pounds sterling 3,559,831 2,715,907 2,462,472 2,033,511 448,9 61 233,435 843,924 839,322 4,602 Swiss francs 280,941 173,354 173,354 147,999 25,355 - - 107,587 107,587 - French francs 754,704 168,741 122,221 122,207 14 46,-520 _ 585,963 530,306 55,657 Swedish kronor 141,267 42,148 42,148 42,148 - - - 99419 99,119 - Belgian francs 88,894 78,966 78,966 78,966 - - - 9,S28 9,928 - Netherlands guilders 61,525 16,288 16,288 16,288 - - - 45,237 45,237 - Miscellaneous 195,255 47,443 47,443 47 ,443 - - 147,812 111,272 36,540 Europe 4 2,29].085 1,001,454 1,001,45 1,001,454 - - - 1,291,631 1,194,272 972359

U.S. dollars 4,632 2,121 2,121 2,121 - - - 2,511 1,951 560 Canadian dollars 9,507 9,157 9,157 9,157 - - 33 O SQ 4 Pounds 0 sterling 848,963 535,125 535,125 535,125 _313, 309,2 4,602 Swiss francs 255,86 4 147,999 147,999 1 _ 107,587 107,587 - French francs 702,441 122,207 122,207 122,207 - - . 580,234 524,577 55,657 .Swedish kronor 141,267 42,148 42,148 42,148 - - - 99,119 99,119 - Belgian francs 85,761 78,966 78,966 78,966 - - - 6,795 6,795 - Netherlands guilders 49,982 16,283 16,288 16,288 - - - 33,694 33,694 - Xivcella2ieouR 194,946 47,443 47,443 47,443 - 147,503 110963 36.540 Table 1-a: PUBLICLY-_HLD FOREIGN BOIDS; PART II, ISSUPS IN EUROPE - Continued

National and Government Guaranteed Bonds of IBRD Member Countries

Principal amount outstandina December 31, 1945 (in thousands of U.S. dollar equivalents) Page 2

Bonds sub.iect to service under original contract or ad.iustment nlan Bonds in default as to Borrowing country and Total Bull service current Sett]el4ent One or more Only currency of denominati-on bonds Total Total Under Under Unassented agreed but Total of interest, principal original adjustment fraction rot yot principal or or sirdning contract plan effective sinkin-z fund fund Austria 47,252 - 47,252 47,252 - Pounds sterling 19,876 - - 19,876 19,876 - Swqiss francs 5,270 _ . _ - 5,270 5,270 - French francs 9 49 _ - - - - 949 949 _ Swedish kronor 2,524 - -- 2,524 2,524 - Belgian francs 154 _ _ _ _ _ - 154 154 - Netherlands guilders 288 ------288 288 - Miscellaneous 18,191 - - - - - 18,191 18,191 - Belgium 6S.543 65 543 65. 41 6s,54- Pounds sterling 40,735 40,735 40,735 40,735 Swiss francs 15,730 15,730 15,730 15,730 Freinch francs 5,656 5,656 5,656 5,656 Swedish kronor 3,422 3,422 3,422 3,422 Belgian Congo 93.474 93-474 -93-474 93.474 Pounds sterling 14,508 14,508 14,508 14,508 Swiss francs - - - - Belgian francs 78,966 78,966 78,966 78,966 Tablej-& : PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31,1945 (In thousands of U.S. dollar equivalents) Page I Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Full service current Settlement One or more Only and currency Total Total Under Under Unawsented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Czechoslovakia 95,953 - - - 2L9 Pounds sterling 3,756 - _- - 3,756 - 3,756 French francs 55,657 _- - - 55,657 - 55,657 Miscellaneous 36,540 - - - 36,540 - 36,540 Denmark 80 466 79.060 _ _79.o6o 1406 - 1,406 U.S. dollars 1,6 1.400 1,400 1,400 - - - 56W 560 Pounds sterling 42,004 41,158 41,158 41,158 - - - 846 - 846 Swiss francs 4,767 4,767 4,767 4,767 - - - - _ Swedish kronor 17,324 17,324 17,324 17,324 - - - - Netherlands guilders 14,411 14,411 14,411 14,411 - - - - - Finland 21.168 12.738 12.738 12.738 - - - 8.430 8.430 Pounds sterling 12,738 12,738 12,738 12,738 - - - - - Swedish kronor 8,430 ------8,430 8,430 French Union France 147.342 147.342 147,342 147,342 Canadian dollars 9,157 9,157 9,157 9,157 Pounds sterling 18,619 18,619 18,619 18,619 Swiss francs 113,260 113,260 113,260 113,260 Netherlands guilders 1,877 1,877 1,877 1,877 Miscellaneous 4,429 4,429 4,429 4,429

Algeria 56,462 6 4 French francs 56,462 56,462 56,462 5 , Table 1-a: PUIBLICLY-MIEL FORFIGH BONTDS; PaRT II, ISSUES IN EUROPR - Continued Nlational and. Government Guaranteed bonds of IBRD Member Countries Princinal amount outstanding December 31. 1945 (in thousands of U.S. doller equivalents)

Page 4 Bonds subject to service under original contract or ad.justment elan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Total Total Under Under Unassented ngreed but Total of interest, nrincinal original adjustment fraction not yet principal or or sinking contract olan effective sinking fund fund French Indo-Clhina 76 76565 765 - - - French francs 765 765 765 765 - - - Morocco 32,355 32,355 32,35S 32,355 - - - _ _ French francs 32,355 32,355 32,355 32,355 - - - New Caledonia 1L 15 5 _ _ _ _ French francs 15 15 15 15 - _ - _

Tunigia 2973 19732192 3.9 _- _ _ _ French francs 3,973 3,973 3,973 3,973 - - - Germany, West 506.435 - - - 50 6.435 506.435

Canadian dollars 350 350 350 - Pounds sterling 177,920 _ _ _ _ _ 177,920 177,920 _ Swiss francs 70,514 _ _ _ - _ 70,514 70,514 - French francs 111,150 - _ _ _ _ 111,150 111,150 - Swedish kronor 88,165 - _ _ _ _ _ 88, 165 88,165 Belgian - francs 6,641 - _ 6,641 6,641 - Netherlands guilders 28,070 - _ _ _ _ _ 28,070 28,070 - Miscellaneous 23,625 - - 23,625Z 23,625 - Table 1<- PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE

National and Government Guaranteed BondB of IBRD Member Countries

Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Pace 5 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

Greece 271.a31 - - _ _ - - 271,31 271U331 U.S. dollars 1,951 _- - 1,951 1,951 - Pounds sterling 98,445 _ _ - 98,445 98,445 _ French francs 162,560 _- - 162,560 162,560 - miscellaneous 8,375 - - 8,375 8,375 - Iceland - _ _ _ o _ _ _ _ Pounds sterling ______

Italy 13.117 ------13.117 13,117 Pounds sterling 9,047 ______9,047 Sviss francs 9,047 4,070 - - - - - 4,070 4,070 Luxembourg _ ------U.S. dollars _ - - - _ - - - Pounds sterling _ _ - Swiss francs - - _ Netherlands guilders 5,336 - _ _ _ _ _ 5,336 5,336 _ Netherlands 1. 1.320 L32 1A20 ------Swiss francs ------Miscellaneous 1,320 1,320 1,320 - 1,320 _ _ _ _ - Table 1-a: PUBLICLY-EWR FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) pa 6

Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unaseented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Norvaf 59.682 56s682 59 .682 ------U.S. dollars 721 721 721 721 ------Pounds sterling 11,614 11,614 11,614 11,614 ------Swiss francs 9,397 9,397 9,397 9,397 ------French francs 16,548 16,5A 16,548 16,548 ------Swedish kronor 21,402 21,402 21,402 21,402 - - - - - _ Turkey 68.8 ;1ggl 88 688088 - - - - - Pounds sterling 15,116 15,116 15,116 15,116 ------Swiss francs 4,845 4,845 4,845 4,845 - - - - - _ French francs 6,433 6,433 6,433 6,433 - - - - - _ Miscellaneous 41,694 41,694 41,694 41,694 _ _- - - - United Kingdom Dependencies 339.142 M9.140 339.140 - - - - - Pounds sterling 339,140 339,140 339,14o 339,140 - - - - - _ Self-governing colony

So-uthern Rhodesia 41.497 412497 41.497 4i.497 - - - - - _ Pounds sterling 41,497 41,497 41,497 41,497 - - - - _ - Table l-a: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE

National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Pae 7 Bond. subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Total Full service current Settlement One or more Only anddbond currency Total Under Under Unassented agreed but Total of interest, principal oi'denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Yugoslavia 3,271,- - - 342.3Z1 322371 -

Pounds sterling 3,948 - - - - 3,948 3,948 - Swiss francs 27,733 - _- - - 27,733 27,733 Prench francs 249,918 ------2409,918 249,918 - Miscellaneous 60,772 _- - - - 60,772 60,772 _

Latin America 75Z .16 474.411 81 4 7 l279 __ -5. 37.942_ U.S. Dollars 11,182 - - - - - 11,182 11,182 - Pounds sterling 708,042 682,477 449,042 81 448,961 233,435 - 25,565 25,565 - Swiss francs 25,355 25,355 25,355 - 25,355 - - - - - French francs 47,729 46,534 14 - 14 46,520 - 1,195 1,195 -

Bra2il 404.312 404.312 222,561 - 2Z2.561 181,751 - - -

Pounds sterling 357,792 357,792 222,561 - 222,561 135,231 - French francs 46,520 46,520 - - - 46,520. -

Chile 1362 16232 136.2-32 - - - - -

Pounds sterling 110,877 110,877 110,877 - 110,877 - - - - - Swiss franca 25,355 25,355 25,355 - 25,355 - - - - -

Colombia 1 8 . 689 - 1889 - - - - - Pounds sterling 18,67 18,67 18,675 - 18,675 - French francs 41 - 1 7 - - - - - Table 1-a: PUBLICLY-fRLD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Page 8

Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unasented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet - principal or or sinking contract plan effective sinking fund fund

Costa Rica 4,121 81 Al « - - - & 9.042 Pounds sterling 7,998 81 81 81 . _ - 7,917 7,917 French francs 1,125 _ - - - - - 1,125 1.125

Ecuador 12.159 - - - - - Ig.1.9 12.159 U.S. dollars 11,182 ------11,182 11,182 Pounds sterling 907 ------907 907 French francs 70 ------70 70 - 21 Salvador auf& ------a.a& 1= Pounds sterling 3,168 ------3,168 3,168 Guatemala 1,721 ------1,721 1.721 Pounds sterling 1,721 ------1,721 1,721 Honduras 7.88 7.088 4.714 - 4.714 2,374 - - _ Pounds sterling 7,088 7,088 4,714 - 4,714 2,374 - - _ Mexico 110.566 110.566 14.7i6 - 14.716 95,320 - - - Pounds sterling 110,566 110,566 14,736 - 14,736 95,830 - - - Nicaragua 1.406 1.406 1.406 - 1.406 - - - - Pounds sterling 1,406 1,406 1,406 - 1,406 - - - - Paraguamy 9.S 2. 543 2.41 - 2.543 - - - _ Pounds sterling 2,543 2,543 2,543 - 2,543 - - - - Perm 22 .3612 2_36 - - 2 - 11,852 11.852 U.S. dollars ------Pounds sterling 14,214 2,362 2,362 - 2,362 - - 11,852 11,852 Table 1-a: PUBLICLY-HELD FOkEIGN BONDS; PART II, ISSUES IN EUROPE

National and Government Guaranteed Bonds of IBRD Member Countries

Principal amount outstanding December 31, 1945

(In thousande of U.S. dollar equivalents) ~~~~~~~~~~~~~~~~~~~~~Page 9

Bonds_subject to service under original contract or adjustment plan _ Bond in def_ult a_ to Borrowing country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of intereet, principal of denomination bonds Total original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

Uruguay 71,087 71,087 71,087 - 71,087 - _ _ _

Pounds sterling 71,087 71,087 71,087 - 71.087 - - - -

Asia 6.3881.043 81.o043 81.o3 - 58234

U.S. dollars 58,305 - _- - 58,305 58 305

Pounds sterling 585,564 81,043 81,043 81,043 - - - 504,521 504,521 French francs 4,534 - - - - 4,534 4& 534 - Belgian francs 3,133 ------3,133 3,133 - Netherlands guilders I1,543 - - - - - 11,543 11,543 - miecellneoua 309 ------309 309 - Ceylon 97.218 U7. 918 ------Pounds sterling 37,918 37,918 37,918 37,918 _ - - - - China 315,062 ------315-062 U.S. dollars 58,305 - _- - 58,305 58,305 -

Pounds sterling 240,450 - - - - - 240,450 240,450 - Franch francs 1,322 - - _ - - - 1,322 1,322 - Belgian francs 3,133 - - _ - -_. 3,133 3,133 - Netherlands guilders 11,543 - - - - - 11,543 11,543 - Miscellaneous 309 - - - - - 309 309 - Table 1-a: PUBLICLY-BlLD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1945

(In thousands of U.S. dollar equivalents) Page 10

Bonds subject to service under original contract or adjustment plan Bonds in default aa to Borrowing country Full service current Settlement One or more Only and currency Total Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

India .655 39.655 - - - Pounds sterling 39,655 39,655 39,655 39,655 - - - _ _ Iran a..47?oM 0 a.A29 - - - Pounds sterling 3,470 3,470 3,470 3,470 - - - -

Japan 255.834 ------255,834 255.834 - Pounds sterllng 252,622 ------252,622 252,622 - french francs 3,212 - - - - - 3,212 3,212 - Thailand 11.449 ------111449 - Pqast sterling 11,449 ------11,449 11,449 -

Otber Othor L417.~~~26z-1-!U726Z~ L2iB.47.6 417,262 LALi - - --172iL- - - - Pounds sterling 1,417, 1,417,262 1,417,262 1,417,262 ------Swiss francs - - - - - _ _ Australia 1.224.661 1224.61 1.224.661 1224.661 - - - _ _ _ Pounds starling 1,224,661 1,224,661 1,224,661 1,224,661 - - - canads 1] 136.612 136.612 1362 - - - - -_ Pounds sterling 136,612 136,612 136,612 136,612 - - - _ ?,ypt 1,22 1225 . 1.225 - - - Pounds sterling 1,225 1,225 1,225 1,225 ------Union of So. Africa 54.764 54.764 S 4,764 - - - - _ _ Pounds sterling 54,764 54,764 54,764 54,764 - - - - Swiss franco - - - -

LI Includes Newfoundland. IERD - STATISTICS SECTIOT June 16, 1954 Table 1-b: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) * ~~~~~~~~~~~~~~~~~~~~~~~~~~~Page1 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination onds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund 8 Total 4074 424 3 2378.239 2,129l775 248 464 247,264527 3 923,998 922 34 1 164

U.S. donlar_ 74,737 2,135 2,135 1,568 567 _ - 72,602 71,h38 1,16 4 Canadian dollars 605 605 - - - - 605 - - - Pounds sterling 2,717,326 2,437,368 2,001,052 1,785,281 215,771 240,530 195,786 279,958 279,958 - Sviss francs 317,187 284,184 200,064 174,781 25,283 97 84,023 33,003 33,003 - 6 French francs 24,423 182,610 58,313 58,313 - 4,337 119,960 441,813 4l1,813 - Swediah kronor lo4,907 102,858 27,220 20,377 6,843 - 75,638 2,049 2,049 - Belgian franca 84,806 81,916 74,189 74,189 - - 7,727 2,890 2,890 - Netherlands guilders 44,650 36,357 7,171 7,171 - - 29,186 8,293 8,293 - Miscellaneous 105,783 22,393 8,095 8,095 - - 14,298 83,390 83,390 - Europe t,1Y8X722 1,54,7 017 50 1JO04,216 13X234 97 27,223 . 1.i6i4

U.S. dollars 4,683 1,568 1,568 1,568 - - - 3,115 1,951 1,164 Canadian dollars 605 605 - - - - 605 - - _ Ronids sterling 963,907 870,731 674,945 673,651 1,294 - 195,786 93,176 93,176 - Swisa france 283,072 250,069 165,949 160,852 5,097 97 84,023 33,003 33,003 _ French francs 617,465 178,273 58,313 58,313 - - 119,960 439,192 439,192 _ Swedish kronor 104,907 102,858 27,220 20,377 6,843 - 75,638 2,049 2,049 - Belgian francs 82,051 81,916 74,189 74,189 - - 7,727 135 135 - Netherlands guilders 36,558 36,357 7,171 7,171 - - 29,186 201 201 - Miscellaneous 105,474 22,393 8,095 8,095 - - 14,298 83,081 83,081 - Table l-b : PUBLICLY-HTL FOREIGN BONDS; FART II, ISSUES IN EUROPE -- Continued National and Government Guaranteed Bonds of IBED Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) ~~~~~~~~~~~~~~~~~~~~~Page 2 Bonds subject to service under original contract or adjustment plan Bonds in default as to - Borrowing country Total Full service current Settlement One or more Only and currency o Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Tbtal original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

Austria 39,052 _ _ _ _ _ - 39,052 39,052

13,809 Pounds sterling 13,809 - - - 13,809 Swiss francs 5,270 ------5,270 5,270 French francs 323 ------323 323 Swedish kronor 2,049 ------2,049 2,049 - Belgian francs 135 ------i35 135 - - Netherlands guilders 201 ------201 201 Miscellaneous 17,265 ------17,265 17,265 _

Belgium 85,048 85,048 85,048 85,048

Poundc sterling 17,153 17,153 17,153 17,153 - - Swi6 francs 66,416 66,416 66,416 66,416 French francs - - - - Swedish kronor 1,479 1,479 1,479 1,479 -

Belgian Congo 112,273 112,273 112,273 112,273 -

Pounds starling 10,080 10,080 10,080 10,080 - Swiss francs 28,004 28,004 28,004 28,004 Belgian francs 74,189 74,189 74,189 74,189 Table 1-b : PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 3 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency Tondl Total Under Under Unaseented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Czechoslovakia 32,7952,321 2,321 2,321 - - - 30,474 30,474

Pounds sterling 2,321 2,321 2,321 2,321 - - - - - French francs 27,149 ------27j149 27,149 Miscellaneous 3,325 - - - - - 3,325 3,325

Denmark 45,534 44,370 44,370 44,370 - - - 1,164 - 1,1614 U.S. dollars 1,584 420 420 420 - - - 1,164 1,164 Pound sterling 23,461 23,461 23,461 23,461 ------Sviss franca 3,195 3,195 3,195 3,195 - - - - - Swedish kronor 10,123 10,123 10,123 10,123 - - Netherlands guilders 7,171 7,171 7,171 7,171 ------

Finland 10,679 10,679 10,679 3,836 6,843 - - - -

Pound. sterling 3,836 3,836 3,836 3,836 - - - - Swedish kronor 6,843 6,843 6,843 - 6,843

French Union

France 51,838 51,838 51,838 51,838 - - - -

Canadian dollars - - - - _ Pounds sterling 10,906 10,906 10,906 10,906 - Swiss francs 39,790 39,790 39,790 39,790 Netherlands guilders - - - - _ Miscellaneous 1,142 1,142 1,142 1,142 - Table 1-b : PUBLICLY-HTM FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 4 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination bonde Total original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

French Union (cont'dJ

Algeria 32,071 32,071 32,071 32,071 -

French francs 32,071 32,071 32,071 32,071 -

French Indo China 232 232 232 232 -

French francs 232 232 232 232 -

Morocco 18,342 18,342 18,342 18,342 -

French francs 18,342 18,342 18,342 18,342 - _

Nev Caledonia 4 4 4 4 -

French francs 4 4 4 4 - - -

Tunisia 7 7 5 7 5 - _

French francs 754 754 754 754 - - -

Germany, West 527,223 527,223 -2-23 -

Canadian dollars 605 605 - 605 - Pounds sterling 195,786 195,786 I195,786 - Table 1-b: PUBLICLY-BTM FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page S Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

Germany, West (cont'd)

SBiss francs 84,023 84,023 - - - - 84,023 - - French francs 119,960 119,960 - - - - - 119,960 - - Svedish kronor 75,638 75,638 - _ - - 75,638 - - Belgian francs 7,727 7,727 - _ - - 7,727 - - Netherlands guilders 29,186 29,186 - - - - 29,186 - - Miscellaneous 14,298 14,298 - - - - 14,298 - -

Greece 244,290 ------244,290 244,290g

U.S. dollars 1,951 - - _- - 1,951 1,951 Pounds sterling 76,624 - - _- - 76,624 76,624 French francs 161,802 ------161,802 161,802 Miscellaneous 3,913 - - - _- - 3,913 3,913

Iceland 3,500 3X500 3,500 3,500 - - _- -

Pounds sterling 3,500 3,500 3,500 3,500 - - - - -

Italy 7493 7,3961,005 6,391 9 7

Pounds sterling 2,299 2,299 2,299 1,005 1,294 - - - - Sviss francs 5,194 5,194 5,097 - 5,097 97 _ _ _ Table i-b: PUBLICLY-HKLD FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued National and Government Guaranteed Bonds of IBRD Member Countries

Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Pagf L6 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but' Total of interest, principal of denominaLtion bondsTotal original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Luxembourg. 44,897 14,897 4 897 4,897 -

U.S. dollars 542 542 5142 542 - - _ Pounds sterling 62 62 62 62 - - - - - Swiss francs 4,293 4,293 4,293 4,293 - - - _ Betherlaeds guilders ------

Netherlands 12,146 12,146 12,146 12,146 - - - - -

Swiss francs 11,669 11,669 11,669 11,669 - - - - - Miscellaneous 477 477 477 477 - - -

Norway 42,507 42,507 42,507 142, - - U.S. dollar8 606 606 606 606 - - Pounds sterling 18,735 18,735 18,735 18,735 - - Swiss francs 7,481 7,481 7,481 7,481 - - French francs 6,910 6,910 6,910 6,910 - - - - - Swedish kronor 8,775 8,775 8,775 8,775 - -

Turkey 6,967 6,9676 6,9679 -

Pounds sterling 487 487 487 487 - _ _ Swiss francs 4 4 4 4 French francs - - - - _ _ _ Miscellaneous 6,476 6,476 6,476 6,476 - - Tablel-b : PUBLICLY-HRED FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 7 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, of denomination principal bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund United Kingdom Dependencies 4 407.360 4076360 4 002360 - - Pounds - sterling 407,360 407,360 407,360 407,360 - _ _ _ _ Self governing colony Southern Rhodesai 174,745 174.745 174.7 j 174,745 - - - - - Pounds sterling 174,745 174.745 174,745 174,745 _- - Yugoslavia 338,972 ------18.972 3f8.972- Pounds sterling 2,743 - - 2743 2,743 Swiss francs 27,733 - _ - _- - 27,733 27,733 Prench francs 249,918 - - - - - 249,918 Miscellaneous 58,578 249,918 - _ - - - - 58,578 58,578 Latin America 301,367 269.390 =130 - 212304 341.9160 - U.S. dollars 11,749 567 567 - 567 - - 11,182 11,182 Pounds sterling 264,020 244,300 214,477 - 214,477 29,823 - 19,720 19,720 Swiss francs 20.186 20,186 20,186 - 20,1Z6 - French - - - francs 5,412 4,337 - - - 4.337 - 1,075 1,075 Brazil 88.933 88,2ti 84,596 - 84.96 - - Pounds sterling 84,596 84,596 84,596 - 84,596 - - - - French francs 4,337 4,337 - - - 4,337 - - - Table l-b: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued National and Government Guaranteed Bonds of IBED Member Countries Principal amount outstanding December 31k 19S2 (In thousande of U.S. dollar equivalents) Page 8 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Full service current Settlement One or more Only and currency Total Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Chile 73,700 73,700 - 73,700 / - - -

Pounds sterling 53,514 53,514 53,514 _ 53,514 - - _ _ Swiss francs 20,186 20,186 20,186 - 20,186 - - - -

Colombia 5,074 5,074 4,'7 - 4,777 297 -__ _ _

Pounds sterling 5,074 5,074 4,777 - 4,777 297 _ _ _ French francs ------

Costa Rica 7,866 45 45 - - 7y821 1

Pounds sterling 6,815 45 45 - 45 - - 6,770 6,770 French francs 1,051 --- 1,051 1,051

Ecuador ---,026 - - l24Qa 12,026 -

U.S. dollars 11,182 ------U,1182 11,182 - Pounds sterling 820 ------820 820 - French francs 24 ------24 24 -

E1 Salvador 1,607 1,607 1548 - 1,548 7 - - _ Pounds sterling l;667/ 1,607 1,548 1,548 59 _ _ _

2 1/24 unassented. Amount of unassented unavailable. Table 1-b: PUBLICLY-HKLD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD kemDer Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 9

Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, of denomination bonds Total original principal adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Guatemala 1,196 - 1,196 1.196

Pounds sterling 1,196 _- - 1,196 1,196 Honduras 2,011 2,011 361 - 361 1,650 _ _ Pounds sterling 2,011 2,011 361 - 361 1,650 - _

Mexico 51,035 51,035 23J218 - 23,218 27,817 - - _ Pounds sterling 51,035 51,035 23,218 - 23,218 27,817 - Nicaragua 820 820 820 - 820 - Pounds sterling 820 820 820 - 820 - - _ _ Paraguay 745 7L5 745 _ 74545 _ _ Pounds sterling 745 745 745 - - 745 - - - Peru 12,663 1,729 1.729 - 1,729 _ _ 10,934 10 934 - U.S. dollars 567 567 567 - 567 - - Pounds sterling 12,096 1,162 _ _ 1,162 - 1,162 _ 10,934 10,9341 Uruguay 43,691 433,69 ,691 - 3691 -

Pounds sterling 43,691 43,691 43,691 - U,3691 - - - - / Dollar bonds result from exchange of sterling bonds outstanding for new dollar bonds under Plan of 1947 Tablel-b : PUBIJCLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousande of U.S. dollar equivalents) Page 10 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country Full service current Settlement One or more Only and currency Total Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Asia kL.646 243L577 32.870 E2a870 210.707 _ 238,069 238,069 _

U.S. dollars 58,305 - - - _ _ 58,305 58,305 - Pounds sterling 410,639 243,577 32,870 32,870 - 210,707 - 167,062 167,062 - 6 French francs 1,54 - - _ - - - 1,5b6 1546 - Belgian francs 2,755 - - _- - 2,755 2,755 - Netherlands guilders 8,092 ------8,092 8,092 - Miscellaneous 309 ------309 309

Ceylon 26,345 26,3145 26,345 26.345 - _ 6 Pounds sterling 2 ,345 26,345 26,345 26,345 - -

China 236,974 . - 236,974 236,974 _

U.S. dollars 58,305 - - - _ _ _ 58,305 58,305 Pounds sterling 167,062 - - - _ _ _ 167,062 167,062 - French franc. 451 - - - _ _ _ 451 451 _ Belgian francs 2,755 - - - _ _ _ 2,755 2,755 - Netherlands guilders 8,092 ------8,092 8,092 - Miscellaneous 309 - - - 309 309 India 2L835 2,835 2,835 -

Pounds sterling 2,835 2,835 2,835 2,835 - _ _ _ _ Table 1-b: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES ID EUROPE National and Government Guaranteed Bonds of IBERD Member Countries

Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 11 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Full service current Settlement One or more only and currency Total Total Under Under Unassented agreed but Total of interest, principal of denomination bonda Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Iran ______

Pounds sterling - -

Japan 211,802 210,707 - 210.707 1 J095i95

Pounds sterling 210,707 210,707 - - - 210,707 - - French franea 1,095 - - _ _ - 1,095 1,095

Thailand 39690 3,9 39690- - _- -

Pounds sterling 3,690 3,690 3,690 3,690 - - - _ _

Other 1}j92,689 1,092 689 1,O92 689 1,092,689 - - - - -

Pounds sterling 1,078,760 1,078,760 1,078,760 1,078,760 - - - Swiss francs 13,929 13,929 13,929 13,929 - - - - -

Australia 903,014 903,014 903,ol4 903,403 - - _ _

Pounds sterling 903,0o4 -903,O14 903,014 903,014 - - - - -

Canada 100,782 100,782 100,782 - - -

Pounds sterling 100,782 100,782 100,782 100,782 - - - - - Table 1-b: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBERD Member Countries Principal amount outstanding December 31, 3952 (In thousands of U.S. dollar equivalents) Page 12 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full Bervice current I Settlement One or more Only and currency Total Total Under Under Unansented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Egypt 568 568 568 568 - - - - - Pounds sterling 568 568 568 568

Union of South Africa 88.325 88,325 88,325 88,325

Pounds sterling 70,396 74,396 74,396 74,396 . - _ Swiss francs 13,929 13,929 13,929 13,929 - - - - -

IBRD - STATISTICS SECTION Jumn 16, 1954 Table x.._: PUELICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUBOPE Natioal sad governmezt Gouarnteed Bonds of I9RD Mecber Countrles

Qbanges in priUc l aeunt Decenber 31, 19h5 to December 31, 1952 (In thousands of U.S. dollar equivalents) Page 1

hdution in ammot outstandin_ Increase in amount outstanding Borrowing country Net and currency increase ()by by adjmtent dae to by funding by new issues of denomination or decrease (-) T amorUsation of par exchange rates Total of interest (including refunding) TOTAL -1.o91.619 1.M399.7 972.201 6.243 ______

U.S. dollars - 88 640 640 - - 552 - 552 Canadian dollars - 8,902 9,109 9,157 - + 48 207 207 - Pounds sterling - 841,799 1,915,746 997.315 53,461 864,970 1,073,947 48,651 1,025,296 Swiss francs + 36,246 94.920 94,920 - - 131,166 14,700 116,466 French francs - 130,281 187,026 134.926 - 52,100 56,745 21,507 35,238 Swedish kronor - 36,360 45,960 26,478 - 19,482 9,600 171 9,429 Belgian france - 4,088 56,010 55.326 - 684 51,922 1,373 50,549 Netherlands guilders - 16,875 22,255 11,395 - 10,860 5,380 5,380 - Miscellaneous - 89,472 93,726 69.573 - 24,153 4,254 4,254 -

hlurope - 94.363 A. 606.g64 - 126.709 839.310 95.526 743.784 U.S. dollars + 51 3 I -_3 ------552 Canadian dollars - 8,902 9,109 9,157 - + 48 207 207 - Pounds sterling + 114,944 478,469 251,940 - 226.529 593,413 47,934 545,479 Swiss francs + 27,486 89,751 89.751 - - 117,237 14,700 102,537 French francs - 84,976 141,721 92.843 - 48,878 56,745 21,507 35,238 Swedish kronor - 36,360 45,960 26.478 - 19,482 9,600 171 9,429 Belgian francs - 3,710 55,632 55,326 - 306 51,922 1,373 50,549 Netherlands gllnders - 13,424 18,804 11,395 - 7,409 5,380 5,380 - Miscellaneous - 89,472 93,?26 69.573 - 24,153 4,254 4,254 Table 1-c PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EURDPE

National and Oovern nnt Guaranteed Bonds of IBED Member Countries Change8 in principal amount outstwnding December 31, 1945 to December 31. 1952 (In thousands of U.S. dollar equivalents) -- page_2 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (.) by by adjustment due to by funding of denomination by new issues or decrease (-) Total amortization of par exchange rates Total of interest (including refunm Austria - 8.200 8200 - _ 8.200 - Pounds sterling - 6,o67 - 6,o67 - - Swiss francs ------French francs - 626 626 - - 626 - - - Swedish kronor - 475 475 - - 475 - Belgian francs - _ - 19 19 - - 19 - - - Netherlands guildere - 87 87 - _ 87 - - _ Miscellaneous - 926 926 - _ 926 - - _ Belgium + 19. 05 38,840 30,962 7JX878 58.345 _ 58,345 Pounds sterling - 23,582 23,582 6,477,535 Swiss - francs + 50,686 7,659 7,659 - - French francs 58, 3 45 _ 58,345 - 5,656 5,656 5,656 - -_ Swedish kronor _ 1,943 1,943 1,600 - 343 - -- Belgian Congo + 18,799 5.754 51,326 4.428 7S.55' 5 Pounds sterling - 4,428 4,428 - _ 4,428 - - Swiss francs 28,004 + - - - - 28,004 - 28,004 Belgian francs - 4,777 55,326 55,326 - - 50,549 - 50,549 Czechoslovakia - 61.158 3.158 61.935 _ 1.22_ Pounds sterling - - 1,435 1,435 415 - 1.020 _ _ French francs 28,508 - 28,508 28,305 - 203 - - Miscellaneous - 33,215 33,215 33,215 - _ - _ Table 1-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Changes in principal amount outstanding December 31, 19L5 to December 31, 1952 (In thousands of U.S. dollar equivalents) Page 3 Reduction in amount outstanding Increase in amount outatanding Borrowing country Net and currency increase (i) by by adjustment due to by funding by new issues of denomination or decrease (- Total amortisation of par exchange rates Total of interest (including refunding) Denmark _ . 481 108_ 17.709 7.85 U.S. dollars - 3637 376 _ Pounds sterling - 18,543 21,666 11,360 - 10,306 3,123 _ 3,123 Swiss francs I,5721 1,572 1,572 - - - --

Swedish kronor - 7,201 11,963 9,618 - 2,345 4,762 - 4,762 Netherlands guilders - 7,240 7,240 4,182 - 3,058 - --

Finland - 10,489 10,489 ?.218 - 3271 Pouads sterling - 8.902 8,902 7,218 - 1,684 - - Swedish kronor - 1,587 1,587 _ - 1,587 _ _ French Union France - .0 95504 87,721 -. - Canadian dollars - 9,157 9,157 9,157 - _ _ _ Pounds sterling - 7,713 7,713 2,922 - 4,791 _ _

Swiss francs - 73.470 73,470 73,470 - - - - Netherlands gutllders - 1,877 1,877 1,877 - - _ _ Miscellaneous - 3,287 3,287 295 - 2,992 - -

Algeria - 24,391 50,985 40,093 - 10.892 26,594 - 4 French francs - 24,391 50,985 40,093 _ 10,892 26,594 -

French Indo China -- 448 - - Prench francs - 533 533 85 - 448 - _

Morocco - 14.013 22.67 3,904 18.753 8 644 8 French francs - 14,013 57 3,904 _ 18,753 8 Table 1-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EURDPE National and Government Guaranteed Bonds of TEBD Member Countries Changes in principal amount outstanding December 31, 1945 to December 31. 1952 (In thousands of U.S. dollar equivalents) Pags 4 Reduction in amount outstanding Increase in amount outstanding Borrouing country Net and currency increase (-) by by adjustment due to of denomination by funding by new issues or decrease (-) Total amortization of par exchange rates Total of interest (including French Union (continued) refunding) New Caledonia - 11 11 4 - z _ - French francs - 11 11 4 _ 7 - _ Tunisia 3.219 - 3,219 -161 1,458 French francs - 3,219 - 3,219 1,761 - 1,458 - - Germany, West + 20,788 7-,547 _ 73,547 94.315 94.335 Canadian dollars + 255 + 48 - _ + 48 207 207 Pounds sterling + 17,866 30,068 - - 30,068 47,934 47,934 - Swiss francs + 13,509 - - - - 13,509 13,509 French francs - + 8,810 12,697 - 12,697 21,507 21,507 Swedish kronor - - 12,527 12,698 - - 12,698 171 171 Belgian francs - + 1,086 287 - - 287 1,373 1,373 Netherlands guilders - + 1,116 4,264 - - 4,264 5,380 5,380 Miscellaneous _ - 9,327 13,581 - - 13,581 4,254 4,254 Greece - 27.041 2?.041 _ zZ7.041 - U.S. dollars - - - Pounds sterling - - - 21,821 21,821 - - 21,821 - - French francs - 758 758 - _ 758 Miscellaneous - - - 4,462 4,462 - 4,462 - - Iceland + 3.SO -58 - 5,038 _ Pounds sterling + 3,500 5,038 1,538 - _ 1,538 5038 5.o38 Tablei_C PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE baelonal and Government Guaranteed Bonds of 1BRD Member Countries

Changes in principal amount outstanding December 31, 19b5 to December 31, 1952 (In thousands of U.S. dollar equivalents) Page 5 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (a) by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortisation of par exchange mates Total of interest (including refunding) Italy - 5.6214 6.815 - 1.009 1,191 1.191 Pounds sterling - 6.748 6,748 5,739 - 1,009 - - Swiss francs + 1,124 67 67 - 1,191 1,191

Luxembourg - S.6 -9 27 ,16450 - 5164 U.S. dollars + 542 10 10 - _ 552 _ 552 Pounds sterling + 62 31 4 - 27 93 - 93 Sviss francs + 4.293 226 226 - - 4.519 - 4,519 Netherlands guilders - 5,336 5,336 5,336 - _ - _ Netherlands + I0.826.BZ( - 11621.669 - Swiss francs + 11,669 - - - - 11,669 -11, 69 Xiscellaneous - 843 843 845 - 4 2 - _

Norway - 17.175 3542 28.692 _ 7.150 18.667 -18667 U.S. dollars - 345 115 115 - - - _ Pounds sterling + 7.121 6.879 4.799 - 2,080 14,000 - 14,000 Swiss francs - 1,916 1,916 1,916 - - - _ French francs - 9,638 9.638 6.602 - 3,036 - _ Swedish kronor - 12,627 17.294 15,260 - 2,034 4,667 - 4,667

Turkey - 61.121 1.121 60.907 - 214 - -- Pounds sterling - 14,629 14,629 14,415 - 214 - Svis francs - 4,841 4,841 4.841 - - - - French francs - 6,433 6,433 6,433 - _ _ Xiscellaneous - 35.218 35,218 35.218 - _ _ _ Table 1-0 PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IhRD Member Countries

Changes in principal amount outstanding December 31, 1945 to December 31. 1952 (In thousands of U.S. dollar equivalents) page 6 Reduction in amount outstanding Increase in amount outstanding Borrowing cointry Net and currency increase (W) by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortiSation of par exchange rates Total of interest (including refunding) United Kingdom Dependencies + 68 220 254.095 175.522 7857 322.315 - 322.315 Pounds Sterling + 62 254,095 175,522 _ 78,573 322,315 - 322,315 Self-governing colony Southern Rhodesia . 133.248 6 662 13.499 54.163 200.910 - 200.910 Pounds Sterling + 133,248 67,662 13,499 54,163 200,910 - 200,910

Yugoslavia - 29 3,399 -- 1 9 - Pounds sterling - 1,205 1,205 - _ 1,205 Swiss franc. - - _ - French francs - - - - Miscellaneous - 2,194 2,194 - - 2,194

Latin Amercla - 490 94 491461 52Z 84.992 __4 U.S. dollars - Pounds sterling - 443,316 444,033 305,814 53,461 84,758 717 717 Swiss francs - 5,169 5,169 5,169 - - French francs - 42,317 42.317 42,p83 234

Brazil - 15.3?9 315.379 278.029 _37,350 - Pounde sterling - 273,196 273,196 236,034 - 37.162 French francs - 42,183 42,183 41,995 188

Chile - 62.532 625 39-02 - 23,507 _ Pounds sterling - 57,363 57,363 33,856 _ 23,507 Swiss francs - 5,169 5,169 5,169 - Table 1-c : PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EURtOPE

National and Government Guaranteed Bonds of IERD Member Countries Changes in principal amount outstanding December 31, 1945 to December 31. 1952 (In thousands of U.S. dollar equivalents) Page 7 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase () . by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortization Of par exchange rates Total of interest (including

Colombia - 13.61s 6 11.387 _ 2.228 _ _ Pounds eterling - 13,601 13 601 11,373 2,228 - - French francs - 14 14 14 - - - -

Costa Rica - 1.257 1Z 20 _ - Pounds sterling - 1,183 1,183 1,163 - 20 - - French francs - 74 74 74 - - - -

Ecuador - fla -_ _ U.S. dollars

Pounds sterllng - 87 87 - 87 _ _ French francs - 46 46 - - 46 - -

El Salvador - 1.161 2.278 1.S72 706 717 717 Pound. sterling - 1,561 2,278 1,572 - 706 717 717

Guatemala - 5 -2 - - -2 Pounds sterling - 525 525 - _ 525 _ _

Honduras - LM L= 4,1- - _ Pounds sterling - 5,077 5,077 4,194 _ 883 - -

Mexico - 59531 ss.$31 6,283 532148 - Pounds sterling - 59,531 59,531 6,283 53,248 _ _ _

Nicaragua - r86 86 226 -- 6 _ Pounds sterling - 586 86 226 -3 Tablel-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Changes in principal amount outstanding December 31, 1945 to December 31, 1952 (In thousands of U.S. dollar equivalents) Page 8 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (.) by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortization of par exchange rates Total of interest (including refunding)

Paraguy 1.798 1.798 1.471 - 2- Pounds sterling - 1,798 1,798 1,471 - 327

Peru - l.S11 828 213 510 - U.S. dollars _ 139 139 139 - - Pounds sterling - 1,412 1,412 689 213 510 Uraguay _ 27.396 9 B,93 18.443 Pounds sterling - 27,396 27,396 8,953 18,443

Asia - 181,?42 181,742 45.182 - 1236.60 _ _ U.S. dollars - - Pounds sterling - 174.925 174,925 45,182 - 129,743 French francs - 2,988 2,988 - - 2,988 Belgian francs - 378 378 _ - 378 Netherlands guilders - 3,451 3,451 - 3,451 _ - Miscellaneous - -

Ceylon - 11.573 11.573 - 11.573 Pounds sterling - 11,573 11,573 - 11,573 China - 78.088 78,088 _ 78,088 U.S. dollars ------Pounds sterling - 73,388 73,388 _ - 73,388 - - French francs - 871 871 - - 871 - - Belgian francs - 378 378 - - 378 - - Netherlands guilders - 3,451 3,451 - - 3,451 - - Miscellaneous - - - Table 1-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Governasat Guaranteed Bonds of TBRD Member Countries

Changes in principal amount outstanding December 31, 19h5 to December 31, 1952 (In thousands of U.S. dollar equivalents) ;aka 9 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (4) by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortization of par exchange rates Total of interest (including

India - 36A20 36,820 35 _ 174246 Pounds sterling - 36,820 36.820 35,574 -_ 1

Iran - 3.470 3.470 3.470 - _ - - Pounds sterling - 3.470 3,470 3,470 -

Japan - 44,032 144.02 - - 44,032 Pounds sterling - 41,915 11.915 - - 41,915 _ _ French francs - 2,117 2,117 _ - 2,117 _ _

Thailand - 7.A Z,S 6,38 - 1.621 Pounds sterling - 7,759 7,759 6,138 - 1,621 - - Other - 324L.S7 818,1 324.372 442.40 49,4_41.6 Pounds sterling -- 4Z MM M r - wig, e Swiss francs + 13,929 - _ _ - 13,929 - 13,929

Australia - 321.647 759.464 377,285 382,179 437.817 - 437.817 Pounds sterling - 321,647 759,464 377,285 _ 382,179 437,817 - 437,817

Canada _ 35,830 35,830 9.176 _ 26,654 _ Pound. sterling - 35,830 35,830 9,176 _ 26,654 _

Egypt _ 6Z 407 - 250 Pounds sterling _ 657 657 407 - 250 - _

Union of South Africa + 3i.561 L4.85752161 - 55-22 55S929 Pounds sterling + 19,632 22,368 7,511 _ 14,857 42,000 _ 42,000 Swiss francs + 13,929 _ - - - 13,929 - 13.929

IBRD - STATISTICS SECTION June 16,1954 Table 2-a: PUBLICLY-EELD FOREIGM BOlTDS; PART II, ISSuES IN EUDItPF

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31. 1945

(in thousands of U.S. dollar equivalents)

Page 1 Bonds subject to service under original contract or adjustment -plan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, Total principal Total original adjustment fraction not yet Total principal or or sinking contract -plan effective sinking fund fund Total 1,019,189 984.628 923,694 889,221 6 _ 34.561 16,541 1,02018=347 -Canadian dollars 271,241 265,131 265,131 265,131 - - - 6,110 6,110 -Pound-s-sterfllng 689,634 683,291 628,218 593,745 34,473 54,199 Swiss francs 874 6,343 754 5,589 26,998 17,703 17,703 17,703 - - French franxcs - 9,295 9,295 - 5,290 3,654 206 206 _ 3,448 - Swedish kronor 1,636 1,636 - 19,645 8,468 8,468 8,468 - - - 11,177 4,856 6,321 Netherlands guilders 6,381 6,381 3,968 3,968 - 2,413 - - - - Europe 87,368 65,240 64,366 6- _ 874 22,128 14,151 7,977 Pounds. sterling 36,757 35,101 3,3,227 - - - Swiss francs 26,998 17,703 17,703 17,7031 - _ 9,295 9,295 Swedish-kronor 19,645 _ 8,468 8,468 8,468 - _ _ 11,177 4,856 6,321 Netherlands guilders 3,968 3,968 3,968 3,968 - - _ _ _ -

Austria 9,295 _ - - 9,295 9 - Swriss francs 9,295 - _ _ _ _ 9,295 9,295 - Czechoslovakia 1,656 _ - _ _ _ 1,656 - 1,656 Pounds sterling 1,656 - _ 1,656 1,656 Table 2-a; PUBLICLY-HELD FOREIGN BO]iDS; PART II, ISSUES IN EUROPE - Contlnued

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31, 1945

(in thousands of U.S. dollar equivalents)

Page 2 Bonds subAect to service under original contract or ad,justment plan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund Denmark 3 .08 f f 28,187 28,187 6,321 Pounds sterling _ 6,321 22,068 22,068 22,068 22,068 - - Swiss francs 1,982 1,982 1,982 1,982 - - - Swedish kronor - - 6,490 169 169 169 - - - 6,321 Netherlands guilders - 6,321 3,968 3,968 3,968 3,968 - - - - Finland 5,730 874 - - - _ 874 4,856 4,856 Pounds sterling 874 874 - _ _ _ 874 Swedish kronor - - 4,856 ------4,856 4,856 French Union France 17,258 17,258 17,258 17,258 - - - - Pounds sterling 4,598 4,598 4,598 4,598 - - - _ Swiss francs _ 12,660 12,660 12,660 12,660 - - - lNorway 18, 2 48 18,248 18,248 18,248 - Pounds sterling 6,888 6,888 6,888 6,888 - - - - Swiss francs - 3,061 3,061 3,061 3,061 _ _ _ _ _ Swedish kronor 8,299 8,299 8,299 8,299 - - - - - United Kingdom Dependencies 673 6_ 673 - - Pounds sterling 673 673 673 673 - _ _ _ _ Table 2-a: PUBLICLY-EELD FOREIGN BONDS; PART II, ISSUR_S IN EUROPE - Contluoai

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31, 1945

(in thousands of U.S. dollar equivalents)

Page 3 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund

Latin America 95,287 94,533 34.473 - 34.473 6o,o6 - 74 7- Pounds sterling 89,426 88,672 34,473 - 34,473 54,199 -754 - French francs 3,448 3,448 _ 3,448 - _ _ _ Netherlands guilders 2,413 2,413 _ - - 2,413 -

Brazil 94,533 94,533 34.473 -34,473 60,060 - Pounds sterling 88,672 88,672 34,473 - 34,473 54,199 - _ _ _ French francs 3,448 3,448 _ - - 3,448 - _ _ _ Netherlands guilders 2,413 2,413 - - - 2,413 -

Mexico 75 - 754-754 Pounds sterling 754 - - - 754 754 _

Asia 38,378 36,742 36,742 36,742 _ - - 1,636 1,636 - Pounds sterling 36,742 36,742 36,742 36,712 - _ _ _ _ _ French francs 1,636 - - - _ _ _ 1,636 1,636

Burma 1,838 1.838 1,838 1,838 - - - - _ _ Pounds sterling 1,838 1,838 1,838 1,838 ------

India 32,220 32,220 32,220 32,220 - - _ - Pounds sterl-ing 32,220 32,220 32,220 32,220 - - _ _ _ _ Table 2a: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE - Continued.

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31. 1945

(in thousands of U.S. dollar eauivalents)

Page 4 Bonds subject to service under original contract or ad.justment plan Bonds in default as to Borrowing country and Total Plull service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund Asia (continued) Japan 1.636 - -7- 1,636 1-636 French francs 1,636 - - - 1,636 1,636 Pakistan 2, 684 2,684 2,684 --- -P,ounds sterling 2,684 2,684 2,684 2,684 _- _ - Other 798.156 788,113 788113 788,113 _ 10,043 - 1.041 Canadian dollars 271,241 265,131 265,131 265,131 - 110- 6,110 Pounds sterling 526,709 522,776 522,776 522,776 - - - 3,933 - 3,933 French francs 206 2o6 206 206 - - - Australia 413,324 413,324 413,324 413,324 _ - Pounds sterling 413,324 413,324 413,324 413,324 -- - Canada 3o6,763 296,72o 296,720 296,720 _ _ _ 10,043 _ 10,043 Canadian dollars 271,241 265,131 265,131 265,131 - - - 6,110 Pounds sterling - 6,110 35,316 31,383 31,383 31,383 - French francs - - 3,933 - 3,933 206 206 206 206 - - Union of South Africa 78,o6g 78,069 78,069 78,069 _ Pounds sterling 78,069 78,o69 78,069 78,069 _ -

IBRD - STATISTICS SJCTION June 16. 1954. Table 2-b: PUBLICLY-IELD FOREIGN BONDS; PART II, ISSUES IN EUROPE

Bonds of Political Subdivisions of IBRD Member Countries

Princinal amount outstanding December 31, 1952

(In thousands of U.S. dollars)

Page 1 Bonds,subject to service under original contract or adjustment plan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency-of denomination bonds Under Under Unassented agreed but of interest, principal Total Total -original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund

Total 428 064 417687 415,890, 386,521 29,369 1,797 _ 10.377 10,377 -Canadian dollars 212,4o8 212,408 212,408 212,408 - - - - Eounds sterling 184,193 183,669 -183,669 154,300 29,369 - - 524 524 Swiss - francs 18,160 8,865 8,865 8,865 - - 9,295 9,295 French francs 766 208 - - - 208 _ 558 558 Swedish kronor 8,906 8,906 8,906 8,906 - - - - - letherlands guilders 3,631 3,631 2,042 2,042 - 1,589 _ - _ Ehrzpe 66 43271 43,271 79,29 89X _ _ 9L22 Pounds sterling 23,458 23,458 23,458 22.5 5 893 - - - - Swiss francs 18,160 8,865 8,865 8,865 - _ 9,295 9,295 Swedish kronor 8,906 8,906 8,906 8,906 - - -- - Netherlands guilders 2,042 2,042 2,042 2,042 - - - - -

Austria 9,29 9,295 9.295 Swiss francs 9,295 - - - - - 9.295 9,295 Czechoslovakia 893 893 - - Pounds sterling 893 893 893 893 _ _ _ _ Table 2-b: PUBLICLY-IELD FOREIGN BONDS; PART II, ISSUZS IN EUROPE (continued)

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31, 1952

(In thousands of U.S. dollars)

page 2 Bonds subject to service u.nder original contract or adjustment plan Bonds in default as to Borrowing country and Total Full servine current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund Europe (continued) Denmark 16,6o5 16,6o5 16,605 16,605 - - Pounds sterling 10,212 10,212 10,212 10,212 ------Swiss francB 376 376 376 376 - - - - - _ Swedish kronor 3,975 3,975 3.975 3,975 - - Netherlands guilders 2,042 2,042 2,042 2,042 ------Finland 2.709 2,709 2,709 2,709 - - _ _ _ Pound sterling 258 258 258 258 _ Swedish kronor 2,451 2,451 2,451 2,451 - - - - - French Union France 7.427 7,427 7.42 7,427 _ - _ - - Pounds sterling ______Swiss francs 7,427 7,427 7,427 7,427 - - _ _ _ Norway 5.369 5,369 5.369 5,369 - - _ _ _ Pounds sterling 1,827 1,827 1,827 1,827 -- - francs Swiss 1,062 1,062 1,062 1,062 - - - - Swedish kronor - 2,480 2,480 2,480 2,480 - - - - - United Kingdom Dependencies 10.268 10s268 10 268 0,268- Pounds sterling 10,268 10,268 10,268 10,268 - - - - - Table 2-b; PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE (contlnued)

Bonds of Political Subdivisions of IBRD Member Countries

Princi-pal amount outstanding December 31, 1952

(In thousands of U.S. dollars)

Page 3 Bonds subject to service under original contract or ad.Lustment plan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund Latin America 30,797 30,273 28,476 28,476 19 - 524 a Pounds sterling 29,000 28,476 2,762 6_ 524 _ French francs 208 208 - - - 208 - - Netherlands guilders 1,589 1,589 _ - - 1,589 _ _ _

Brazil 30,273 7Q03 28,476 _ 28,476 1,797-_ Pounds sterling 28,476 28,476 28,476 - 28,476 - _ _ French francs 208 208 - _ - 208 - - - Netherlands guilders 1,589 1,589 _ _ _ 1,589 _ _ -

Mexico 524 - - - -_24 Pounds sterling 524 - - - _ - _ 524 524

Asia 16.495 1,97 1,93,937X937 _- - - Pounds sterling 15,937 15,937 15,937 15,937 - _ _ _ - Prench francs 558 - - - - _ _ 558 558

Burma 840 840 840 840 - - - _ - Pounds sterling 840 840 840 840 - - - - -

India 14,165 14,165 14,14,1,65 - - Pounds sterling 14,165 14,165 14,165 14,165 --

Japan 558 _.5 French francs 558 - - _ _ _ _ 558 558 Table 2-b: PUBLICLY-H3LD FOREIGN BONDS; PART II, ISSUES II EUtROPE (Continued)

Bonds of Political Subdivisions of IBRD Member Countries

Principal amount outstanding December 31, 1952

(In thousands of U.S. dollars)

Page 4 Bonds sub.ject to service under original contract or adjustment -lan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but or interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund Asia (continued) Pakistan 932 932 932 932 _ _ _ _ _ Pounds sterling 932 932 932 932 - - - _ _ Other 328,206 328,206 328,206 328.206 _ _ Canadian dollars 212,408 T212,408 212,1408 - - Pounds sterling 115,798 115,798 115,798 115,798 - - French francs - - - -

Australia 59,858 59,858 59,858 5958 - - Pounds sterling 59,858 59,858 59,858 59,858 - _ _ _ _ Canada 219,267 219,267 219,267 219,267 _ _ Canadian dollars 212,408 212,408 212,408 212,408 - - - - - Pounds sterling 6,859 6,859 6,859 6,859 - - - - - French francs - - - -

Union of South Africa 49,081 49,081 49,081 49,081 Pounds sterling 49,081 49,081 49,081 49,081 - - - -

IBRD - STATISTICS SECTION June 16, 1954 Table 2-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN FUROPE

Bonds of Political Subdivisions of IBRD Member Countries

Changes in nrincinal amount outstanding December 31, 1945 to December 31, 1952

(In thousands of U.S. dollar equivalents)

page 1 Reduction in amount outstanding Increase in amount outstanding Borrowing country and Net By By Due to By By new issues currency of denomination increase (+) Total amortization adjustment exchange Total funding of (including or decrease (-) of par rates interest refundings)

Total - 591,125 619.065 544,32 1,765 58,948 27,940 - 27,940 Canadian dollars - 58,833 58,916 84,753 - + 25,837 83 Pounds sterling - 83 - 505,441 533,298 437,842 15,765 79,691 27,857 Swiss francs _ 27,857 - 8,838 8,838 8,838 - - - - - French-francs -- 4,524 4,524 3,041 - 1,483 - - Swedish kronor - 10,739 10,739 8,676 - 2,063 - - Netherlands guiilders - 2,750 2,750 1,202 - 1,548 - - _ Europe - 34,802 46,447 35,787 - lo,660 11,645 _ 11,645 Pounds sterling - 13,299 24,944 17,218 - 7,726 11,4 1,64 Swiss francs - 8,838 8,838 8,838 - - Swedish kronor - 10,739 10,739 8,676 - 2,063 - Netherlands guilders - 1,926 1,926 1,055 - 871 - Austria _ _ Swiss francs -

Czechoslovakia - 763 7 37_1 392 Pounds sterling - 763 763 371 - 392 -

Denmark - 19i 17,903 11,626 -6277 Pounds sterling - 11,856 11,856 7,371 - 4,485 Swiss francs - 1,606 1,606 1,606 - - Swedish kronor - 2,515 2,515 1,594 - 921 Netherlands guilders - 1,926 1,926 1,055 - 871 Table 2-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSURS IN BUROPE (Continued.

Bonds of Political Subdivisions of IBRD Member Countries

Changes in Drincipal amount outstanding December 31, 1945 to December 31, 1952

(In thousands of U.S. dollar equivalents)

Page 2 Reduction in amount outstanding Increase in amount outstanding Borrowing country and Net By By Due to By By new issues currency of denomination increase (+) Total amortization adjustment exchange Total funding of (including or decrease(-) of par rates interest refundings) Europe (continued) Finland - 3,021 021 2,341 680 _ - _ Pounds sterling - 616 616 503 - 113 - _ Swedish kronor - - 2,405 2,405 1,838 _ 567 - _ _ French Union France - 9,831 9,831 9,831 Pounds sterling - ,5-98 4,598 4,598 - _ _ _ _ Swiss francs - 5,233 5,233 5,233 - - - _ _

Norwiay - 12,879 12,879 11,618 - 1.261 _ - - Pounds sterling - 5,061 5,061 4,375 - 686 _ _ Swiss francs - 1,999 1,999 1,999 - _ Swedish kronor - 5,819 5,819 5,244 - 575 _ _ - United Kingdom Dependencies + 9.595 2,050 2,050 11,645 _ 11,645 Pounds sterling + 9,595 2,050 - - 2,050 11,645 _ 11,645

Latin America - 64,490 490 64 34,904 15,765 13,821 - _ - Pounds sterling - 04 60,426 31,922 15,765 12,739 - - - French francs - 3,240 3,240 2,835 - 405 - _ Netherlands guilders - 824 824 147 - 677 - _ _ Brazil - 64,260 64,260 34,904 15,765 13,591 - _ Pounds sterling - 60,196 60,196 31,922 15,765 12,509 - - Prench francs - 3,240 3,240 2,835 - 405 _ _ Netherlands guilders - 824 824 147 _ 677 - _ _ Table 2-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE (ContLnuea)

Bonds of Political Subdivisions of IBRD Member Countries

Changes in principal amount outstanding December 31, 1945 to December 31, 1952

(In thousands of U.S. dollar equivalents)

Page 3 Reduction in amount outstanding Increase in amount outstanding Borrowing country and Net By By Due to By By new issues currency of denomination increase (+) Total amortization adjustment exchange Total funding of (including or decrease(-) of par rates interest refundins) Latin America (continued) Mexico _ 230 230 230 Pounds sterling _ 230 230 - _ 230 _ Asia - 188 21,883 9,590 - 12 9 Pounds sterling _ - 2 0,805O570- 11,21 - French francs - 1,078 1,078 - 1,078 -

Burma - 998 998 - 561 - Pounds sterling - 998 998 437 - 561 - India - 18,055 18,055 8,221 - 9,834 - _ Pounds sterling - 18,055 18,055 8,221 - 9,834 - Japan - 1,078 1,078 1,078 French francs - 1,078 1,078 - _ 1,078 -

Pakistan - 1,752 1,752 932 _ 820 - Pounds sterling - 1,752 1,752 932 - 820 - -

Other - 4692950 486;245 464,071 - 22,174 16,295 - 16,295 Canadian dollars - 58,833 58,916 84,753 - +25,837 83 - Pounds sterling 83 - 410,911 427,123 379,112 - 48,011 16,212 _ 16,212 French francs - 206 206 206 - - Table 2-c: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE (Co. '1nued)

Bonds of Political Subdivisions of IBRD Member Countries

Changes in orinciDal amount outstanding December 31, 1945 to December 'KL, 1952

(In thousands of U.S. dollar equivalents)

page 4 Reduction in amount outstanding Increase in amount outstanling Borrowing country and Net By By Due /o By By new issues currency of denomination increase (+) Total amortization adjustment exchange Total funding of (including or decrease C-) of par rates interest refundings) Other (continued) Australia - 353466 364,078 341,087 _ Z9910 612 - 10,612 Pounds sterling 353,i466 364,078 341,087 _ 22,991 10,612 - 10,612

Canada - 87,496 8 110,987 _ 23,408 83 - 8 Canadian dollars - 58,833 58,916 84,753 - + 25,837 83 - 83 Pounds sterling - 28,457 28,457 26,028 - 2,429 - - French francs - 206 206 206 - - - - -

Union of South Africa - 28,988 34,588 11,997 - 22,591 5 5.600 Pounds sterling - 28,988 34,588 11,997 - 22,591 5,600 - 5,600

IBRD - STATISTICS SECTION June 16, 1954 Table 3_a: FUBLICLY-ETM FOREIGN BONDS; PART II, ISSUES IN EUROPE Natlonal and Government Guaranteed Bonds of Countries not Mumbers of IZED Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Page 1 Bonds subject to service under original contract or adjustment plan Bonds in default ae to Borrowing country Total Full service current Settlement One or more Only and currency bondl Total Under Under Unaseented agreed but Total of interest, principal of denomination bonds Total original adJ. fraction not yet principal or or sinking contract plan effective sinking fund fund

Total 5.820.711 822.833 822.833 822.83 - 4,297.848 _ U.S. dollars 83,501 - - - - - 83,501 83,501 - pounds sterling 4,829.453 492,870 492,870 492,870 _ - - 4,336,583 4,336,583 - Swiss francs 53,950 15,542 15,542 15,542 - - - 38,408 38,408 - french francs 177,342 ------177,342 177,342 - Swedish kronor 922 ------922 922 - Netherlands guildere 319,263 301,993 301,993 301,993 - - - 17,270 17,270 - Miscellaneous 356,280 12,428 12,428 12,428 - - - 343,852 343,852 -

Europe I04L= &LVA i46.2144 _- - 499.631 - U.S. dollars 83,501 - - - - - _ 83,501 83,501 - Pounds sterling 4,370,399 33,816 33,816 33,816 - - _ 4,336,583 4,336,583 - Swiss francs 38,408 - - - - - 3844o 38,408 - French francs 177,342 - _ _ _ - _ 177,342 177,342 - Swedish kronor 922 - - - - 922 922 - Netherlands guilders 17,270 - _ _ _ _ _ 17,270 17,270 - Miscellaneous 354,033 12,428 12,428 12,428 - - - 341,605 341,605 - Albania 7- -_ - - - 1,237 1,237 - Miscellaneous 1,23? - - - - - _ 1,23? 1,237 - Bulgaria 47.614 - - - - - 47.614 - Pounds sterling 40,510 - - - - - _ 40,510 40,510 - French francs 5,759 - - - - - _ 5.759 5,759 Misceflaneaus 1,345 - _ 1,345 1,345 - Table 3-a: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of Coantries not Members of IBSD Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Page 2 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination onde Thtal original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Danzig 7.S? _- _- Z_5._

Pounds sterling 7,577 ------7,577 7,57_ Estonia 2a 7 ------2.374 _ Pounds sterling 2,374 ------2,374 2,374 -

GermWny, East ------9.11142

Pounds sterling 18,614 ------18,614 18,614 - Swiss franc, 29,706 ------29,706 29,706 Fronach francs 321 ------321 321 Swedish kronor 74 ------74 74 - Netherlands guilders 15,893 ------15,893 15,893 - Miscellaneous 4,534 _ - - - - 4,534 4,534 _

Runasry 215,320 ------215,320 215,320 -

Pounds sterling 49,226 ------49,226 49,226 - Swiss francs 8,469 ------8,469 8,469 -

French francs 11,563 ------11,563 11,563 - Swedish kronor 848 - - - - - 848 848 Netherlands guilders 1,377 - - - - - 1,377 1,377 Migcellaneous 143,837 ------143,837 143,837 Poland 41.02------41.02 41.027-

pounds sterliag 4.364 ------4,364 4,364 lecellaneous 36,663 ------36,663 36,663 _ Portugal 33.816 33.81 32.816 33.816 - - - -

Pounds sterling 33,816 33,816 33,816 33,816 - - - _ Table 3-a: PUBLICLY-HwEL FOREIGN BONDS; PART II, ISSUES IN EUROPE Nationasl and Government Guaranteed Bonds of Countries not Members of IBoD Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Paee 3 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only ond currency bonds Total Under Under Unassented agreed but Total of interest, principal of denomination o a Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Rumania ------512939 12939 U.S. dollars 83,501 ------83,501 83,501 Pounds sterling 115,517 - _ - - - - 115,517 115,517 _ Swiss francs 233 ------233 233 - French francs 159,699 ------159,699 159,699 Miscellaneous 153,989 - - - - - 153,989 153,989_

Russia 4.098,401 _- - - . 4.098.401 4.098.401 - Pounds sterling 4,098,401 ------4,098,401 4,098,401 - Spain 12.428 12.48 12.428 12.428 - - - - -

Miscellaneous 12,428 12,428 12,428 12,428 ------

Latin Amerioa 95,WJ 949.339 ------Pounds sterling 40,7 6 40, 4076 40,796 - - - - - Swiss francs 15,542 15,542 15,542 15,542 ------Argentina 16338 i6338 30§623 ------Pounds sterling 40,796 40,796 40,796 40,796 ------Swiss francs 15,542 15,542 15,542 15,542 ------

Asia 304.240 301..9,a 32L.a ML22m - - - 2.947 2.Z47 Netherlands guilders 301,993 301,993 301,993 301,993 - - - - - Miscellaneous 2,247 ------2.247 2,247 Table 3-a: PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Govern-ent Guaranteed Bonds of Countries not Members of IRED

Principal amount outstanding December 31, 1945 (In thousands of U.S. dollar equivalents) Pare 4 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, principal Of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Arab States of the Red Sea 2.4Z- - - - 2.247 2247- Misc6llaneous 2,247 ------2,247 2,247

Indonesia 301,223 301.9922 301,99 301993 ------

Netherlands guilders 301,993 301,993 301,993 301,993 ------

Other 418.258 41828 418 8 418.258 - - - - - Pounds sterling 416,25 41I25 418,2

New Zealand 418.258 41B.258 418.258 418.258

Pounds sterling 418,258 418,258 258 -

rRRD _ STATISTICS SECTION June 16, 1954 Table 3-b: PUBLICLY-HM.D FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) PhDe 1 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Total 4.094,966 31.531 4 431,531 = - 3.663.435 3.663.435 _

U.S. dollars 83,501 - - - - 83,501 83,501 _ Pounds sterling 3,260,945 244.070 244,070 244,070 - - - 3,016,875 3,016,875 Swiss francs 38,408 ------38,408 38,408 - French francs 173,306 - - 173,306 173.306 Swedish kronor - 749 ------749 749 - Netherlands guilders 191,085 178,977 178,977 178,977 - - - 12,108 12,108 - Miscellaneoum 346,972 8,484 8,484 8,484 - - - 338,488 338,488 -

Europ 692,6 -662.38 _6_ U.S. dollar. =3,01 ------3,50 3 Pounds sterling 3,038,670 21,795 21,795 21,795 - 3,016,875 3,016,875 Swiss francs 38,408 _ - - - - 38,408 38,408 - French francs 173,306 ------173,306 173,306 - Swedish kronor 749 - - - _ _ _ 749 749 - Netherlands guilders 12,108 - _- - - 12,108 12,108 - Miscellaneous 345,922 8,484 8,484 8,484 - - - 337,438 337,438 - Albania 2 - -8 8-- Xiscellaneous 578 - _ _ _ _ - 578 578 - Bulgaria 32522 _ 32.-s 2 - Pounds sterling 28,14 French frnces 3,818 - - - _ _ _ - 3.818 3,818 _ Miscellaneous 629 ------629 629 - Table 3-b: PUBLICLY-HRJ) FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outetanding December 31, 1952 (In thousands of U.S. dollar equivalents) Page 2 Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of intereet, principal of denomination bonds Total original adj. fraction not yet principal or or oinking contract plan effective sinking fund fund

Danzig 5.264 - _ _ 5.264 5264_ Pounds sterling 5,264 - - _ _ _ _ 5,264 5,264 -

Estonia 1.649 - Pounds sterling 1,49 - - - - -149

Germazy, East 58485 58.485 58.485 Pounds sterling 12,934 ------12,934 12,934 - Swiss francs 29,706 - _ _ _ _ _ 29,706 29,706 - French francs 109 ------109 109 - Swedish kronor 60 ------60 60 - Netherlands guxildere 11,142 ------11,142 11,142 Miscellaneous 4,534 - - 4,534 4,534

Hungary 197,752 - - - - 197.752 197,752 Pounds sterling 34,203 ------34,203 34,203 Swiss francs 8,469 ------8,469 8,469 - Frenich francs 10,669 ------10,669 10,669 - Swedish kronor 689 ------689 689 - Netherlands gu,ilders 966 ------966 966 - Miscellaneous 142,756 ------142,756 142,756 -

Poland 38.183 ------38,183 38,183 Pounds sterling 3,032 ------3,032 3,032 _ Miscellaneous 35,151 ------35,151 35,151 _

Portugal 21.795 21,795 21.795 21,795 Pounds sterling 21,795 21,795 21,795 21,795 - - _ _ _ Table 3-b: PUBLICLY-HgLD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBRD Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) Pane 3 Bonds subject to service under original contract or adjustment plan Bonds in default as to country Borrowing Total Full service current Settlement One or more Only and currency bonds Total Under Under Unassented agreed but Total of interest, of principal denomination bonds Total original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund Rumania 480-357 - - 480.357 - U.S. dollars 83,501 - _- - 83,501 83,501 - Pounds sterling 84,123 ------84,123 84,123 - Swiss franc. 233 ------233 233 - French francs 158,710 ------158,710 158,710 - Miscellaneous 153,790 - - _ _ _ - 153,790 153,790 - Russia 2,847.524 _ - - - - - 2,847.524 2.847.524 - Pounds sterling 2,847,524 - _ _ _ _ - 2,847,524 2,847,524 - Spain 8.484 8,484 8.484 8.484 - Miscellaneous 8,484 8,484 8,484 8,484 _ - _ _ - Latin America 4,40 4.407 4.407 - - - - - Pounds sterling 4,407 4,407 4,407 4,407 _ _ _ _ _ Swiss francs ------Argentina 4,40 4.407 4,407 4 40 Pounds sterling 4:-I7 4.467i Swiss francs ------Asia 180,0L7 178.7 178.97 - - - 1.05 1050 - Netherlands guilders 178,977 17d,7Y7 7 17b97I7 7 - - _ Miseellaneous 1,050 ------1,050 1,050 Arab States of the Red Sea 1,0S0 - 1.050 1.050 Miscellaneous 1,050 ------1,050 1,050 - Table 3-b: puBLICLY-HML FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Government Guaranteed Bonds of IBED Member Countries Principal amount outstanding December 31, 1952 (In thousands of U.S. dollar equivalents) p 4

Bonds subject to service under original contract or adjustment plan Bonds in default as to Borroving country Total Full service current Settlement One or more Only and currency Tonds Total Under Under Unassented agreed but Total of interest, principal of denomination bonds Ttal original adj. fraction not yet principal or or sinking contract plan effective sinking fund fund

Indonesia 178.977 178.977 178,977 Netherlands guilders 178,977 178,977 178,977 178,977 - _ _ _ _

Other 217,868 217.868 21 868 21868 _ Pounds sterling 2I7e(21,,8 2 8 - -

New Zealand 217.868 217.868 217.868 217.868 Pounds sterling 217,868 217,868 217,868 217,868

IBRD - STATISTICS SECTION June 16,1954 Table 3-c: PTJBLICLY-HELD FOREIGN BONDS; PARTr II, ISSJIS IN EUROPE

National and Government Guaranteed Bonds of Countries not Members of IBRD

Changes in principal amount outstandina December 31. 1945 to December 31. 1952

(In thousands of U.S. dollar equivalents) Page 1

Reduction in amount outstan&in_ Increase in amount outstandinc Borrowing country Net and currency increase (+) by by adjustment duo to by funding by new issues of denomination or decrease (-) Total amortization of par exchange rates Total of interest (including refunding) Total -1,72S.745 1,829.201 324,619 - 1.504.582 103.456 - 103,456 U.S. dollars Pounds sterling -1,568,508 1,671,964 262,160 - 1,409,804 103,456 - 103,456 Swiss francs - 15,542 15,542 15,542 - - - - - French francs - 4,036 4,036 - 4.036 - - _ Swedish kronor - 173 173 - _ 173 - - _ Netherlands guilders - 128,178 128,178 46,700 - 81,478 - - - Miscellaneous - 9,308 9,308 217 - 9,091 - - _ Europe -1 3496211 - - -5- U.S. dollars - Pounds sterling -1,331,729 1,331,729 2,446 - 1,329,283 - _ Sviss francs , 4,03 - French francs - 4,036 4.,036 - _ 4,036 Swedish kronor - 173 173 - - 173 - - Netherlands guilders - 5,162 5,162 - - 5,162 - _ Miscellaneous - 8,ill 8,111 217 - 7,894 _ _ Albana - 6ni 6a6 Miscellaneous - 5 659 -59

Bulgaria - 15,021 15,021 - - 1.021- Pounds sterling - 12,364 12,364 - - 12,364 - - French francs - 1,941 1,941 - - 1,941 - - Miscellaneous - 716 716 - - 716 - - Tables3a : PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN EUROPE National and Governimnt Ouaranteedl Bonds of Countries not Rembers of IBDR

Changes in principal amount outstanding December 31, 1945 to December 31, 1952 (In thousands of U.S. dollar equivalents) Pag 2 Reduction in amount outstanding Increase in amount outstanding Borrouinmg country Net and currency increase C.) by by adjustment due to by funding by new issues of denomination or decrease (-) Total amortization of par exchange rates Total of interest (includin1

Danzig -2.31- 2 .13U _ _ Pounds sterling -2,313 2,313 _ _ 2,313 _ _ _

Estonia -725 - . - - Pounds sterling -725 725 - 725 - - Oermany, East n1iiZ7 10.657 _ 10.657 - - Pounds sterling -5,680 5,680 - 5,680 - - Swiss francs ------French francs -212 212 - - 212 - - Swedish kronor -14 14 - - 14 - - Netherlands guilders -4,751 4,751 _ _ 4,751 - - Miscellaneous - - - - -

Hunga -17.S68 17.S68 - 3_7 568 - -

Pounds sterling -15.023 15,023 - - 15,023 - - Swiss francs - - 8-- Prench francs -894 894 - 894 - _ Swedish kronor -159 159 - - 159 _ _ _ Netherlands guilders -411 411 _ - 411 _ _ Miscellaneous -1,081 1,081 - _ 1,081 _

Polarn -int 2_A - - L.4 - Pounds sterling -1,332 1,332 _ _ 1,332 - _ Miscellaneous -1,512 1,512 - - 1,512 _ _ _ Table 3-c: PUBLICLY-MED TOBEIGX BONDS; PART II, ISSUES IN EURCPI

National and Government Guaranteed Bonds of Countries not Members of IBRD

Chances in Drincival amount outstanding December 31. 1945 to December 3 1. 1952

(In thousands of U.S. dollar equive.lents) Page 3 Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (+) by by adjustment due to by funding by new issues of denomination or decrease (_) Total amortization of par exchange rate Total of interest (including refunding) Portugal - 1120.0216- a 446 Pounds sterling AM~~ - 12,021 12,021 2,4 9,575 _

Rnmania - 32 582 - 32.582 - _ U.S. dollars - - - - Powus sterling - 31,394 31.394 _ 31,394 _ _ Swiss francs - - - Freach francs - 989 989 - _ 989 - - _ Miscellaneous - 199 199 - _ 199 - - _ Russia - 1,250,877 1,250.877 - - 1.250.877 - - - Pounds sterling - 1,250,877 1,250,877 - - 1,250,877 - - - Spain - 3,44 3,944 217 _ 37 - - _ Miscellaneous - 3,944 3.944 217 3,727 - - _ Latin America E - 51.9 42.93 - 1.936 - - - Pounds sterling 36:3 9 * Swiss francs - 15,542 15,542 15,542 -

Argentina - 51 21.1 49.995 Pounds sterling - 36,389 3389 34.453 - 1,93 Swiss francs - 15,542 15,542 15,542 - Table 3-c; PUBLICLY-HELD FOREIGN BONDS; PART II, ISSIES IN EURP1E

National and Government Guaranteed Bonds of Countries not Members of IMRD

Changes in urincinal amount outstanding December 31. 1945 to December 31. 1952

(In thousands of U.S. dollar equivalents) Page 4

Reduction in amount outstanding Increase in amount outstanding Borrowing country Net and currency increase (+) by by adjustment due to by funding by new of donomination issues or decrease (-) Total amortization of par exchange rate Total of interest (including refunding) Asia - 124,213 124213 46, Netherlands guilders - 123,016 123,016 46,700 - 76,316 Miscellaneous - 1,197 1,197 - _ 1,197 Arab. States of the Red Sea - 1.197 1.197 - - - Miscellaneous - - - 1,197 1,197 - - 1,197 - - Indonesia - 123.016 123.016 46.700 - 76316 Netherlands guilders - 123,016 123,016 46,700' - 76,316- - Other - 200.390 303.846 225.26 - 78,585 io3.456 - Pounds 103.45 6 sterling - 200,390 303,846 225.261 - 78,585 103,456 - lo3,456 New Zealand - 200,390 303J.6 225.261 - 78:i85 10-.456 _ 103,45 Pounds sterling - 200,390 303,846 225,261 - 78.585 103,456 - 103,456

IBRD - STATISTICS SECTION Juns 16, 1954. ible 4-a: PUBLICLY-HELD FOfl-IGN BOIDS; PART II, ISSUES IN EUIi0?

3onds of Political Subdivisions of Countries NIot Members of IBED

Amount outstandinpf December 31. 1945

(in thiousands of U.S. dollar equivalents)

_ , _ ~~~~~~~~~~~~~~~~~~~~~~~~~~~Papa1 Bonds subJect to service under original contract or adjustment llan Bonds in default as to Borrowing country and Total Full service current Settlement One-or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund

Total 226,740 105.867 iO5.867 lO5.867 - - - 120.873 120,873 . -

Pounds sterling 211,183 90,912 90,912 90,912 - 120,271 120,271 - French francs 1,244 642 642 642 - - - 602 602 - Metherlands guilders 14,313 14,313 14,313 14,313 - - _

Europe 120,8731 - - - - - 120,873 120.873 - Pounds sterLing 120,271 ------120,271 120,271 - French francs 602 ------602 602 -

Hungary 20,821 - - _ _ 330,821 0 38 - Pounds sterling 30,475 - - _ 30,475 30,475 _ French francs - - _ 346 346 -

Latvia 3,123 - - ,123 32123 Pounds sterling 3,123 - - _ _ _ - 3,123 3,123 _

Poland 3,341 ------3.341 3.341 - Pounds sterling 3,341 - - _ _ _ - 3,341 3,341 _ Table 4-a: PUBLICLY-HELD FOREIGIN BONDS; PART II, ISSUES IN E-UROPE - CoL%inued

Bonds of Political Subdivisions of Countries Not Members of IBRD

Amount outstanding December 31, 1945

(in thousands of U.S. dollar equivalents)

Page 2 Bonds subject to service under original contract or adjustment nlan Bonds in default as to Borrowing country and Total Full service current Settlement currency of denomination bonds One or more Only Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total nrincipal or or sinking contract nln - effective sinking fund fLnd Rumania 256 ------256 2S6 French francs - 256 - - 256 256 - Russia - - - - - 83.332 8-..32 Pounds sterling 83,332 - - _ _ _ _ 83,332 83,332 - Latin America 66. 02 6 66.1026 6 6 E _ Pounds sterling 5, 0 65,6605,660 - - - - French francs 642 -56 642 642 642 - - - - - Argentina 66.3o2 66.302 66,302 66.32266, Pounds sterling 65,660 65,660 65,660 65,660 _ _ _ _ _ French francs 642 642 642 642 - _ _ _ _

Asia 14.313 14311 14.313 14.313 = _ Netherlands guilders 14,313 1 Tj 14,313 14,313 - _ _ Indonesia 14.313 14. 313 14.313 1413 - - - Netherlands guilders 14,313 14,313 14,313 14,313 - - - Uable 4_a: PUBLICLY-H1LD FORLIGN BONDS; PiAT II, ISSUES IN BUEOPE - ContiLund

Bonds of Political Subdivisions of Countries Not Members of IBD

Amount outstanding December 31. 1945

(in thousands of U.S. dollar equivalents)

Page 3 Bonds subject to service under original contract or adj.ustment nlan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sincing contract plan effective sinking fund fund --

Other 25.25 2 25.252 - - - _____ Pounds sterling -zt2 25, 25,252 25,252 - - -

New Zealand 25,252 25,252 25,252 25,252 - - - _ pounds sterling 25,252 25,252 25,252 25,252 - - - _ '

IBRD STATISTICS SECTION JUNE 16, 1954 Table 4-b: PUBLICLY-BELD FOREIGN BOMDS; PART II, ISSUES IN EURIOE

Bonds of Political Subdivisions of Countries not Members of IBRD

Amount outstanding December 31, 1952

(In thousands of U.S. dollar equivalents)

page 1 Bonds sub,ject to service under original contract or ad,justment plan Bonds in default as to Borrowing country and Total Full service current Settlement One or mn:-re Only currency-of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking contract plan effective sinking fund fund

Total 110 7 16,358 16,355 16,35316-2537.LZ24 93.7224

Pounds sterling 99,892 16,330 16,330 16,330 - - - 83,562 83,562 - French francs 205 - - 205 205 - Netherlands guilders 9,980 23 23 23 - _ _ 9,957 9,957 -

Europe 8- _ _ _ 83.767 8L,767 - Pounds sterling 3,2- - - 83,562 83,562 - French francs 205 - - - - - 205 205 - Hungary 21,291 21,291 21,291 -

-Pounds sterling 21,173 _ _ - 21,173 21,173 - French francs 118 ------118 118 -

Latvia 2,170 ------2,170 2.170 - Pounds -sterling 2,170 - -- - 2,170 2,170 -

-Poland 2,321 - _ - - - - 2,321 2,321 - Pounds sterling 2,321 - _- - 2,321 2,321 -

,Rumania 87 - - 87 87 - French francs 87 - _ _ _ - - 87 87 -

Russia 57,898 57,898 -?.898 Pounds sterling 57,898 _ - _ 57,898 57,898 _ Table 4-b; PUBLICLY-HELD FOREIGN BONDS; PART II, ISSUES IN rUPOP?.

Bonds of Political Subdivisions of Countries not Members of IBRD

Amount outstanding December 31. 1952

(In thousands of U.S. dollar equivalents)

Page 2 Bonds subject to service under original contract or adjustment -lan Bonds in default as to Borrowing country and Total Full service current Settlement One or more Only currency of denomination bonds Under Under Unassented agreed but of interest, principal Total Total original adjustment fraction not yet Total principal or or sinking ______plan______a_ effective sinking fund fund Latin America 5,w99 5,399 399 - Pounds sterling 9 5.399 5,399 5,399 _ _ French francs - - _ _ Argentina 5,399 5,399 5,399 5,399 _- Pounds sterling 5,399 5,399 5,399 5,399 French francs - - - - Asia 9, 980 23 DI - = -9,957 Netherlands guilders 97980 23 23 23 - - 9.957 9.957 Indonesia 9,9802 23 - - __ 9.97232-3 Netherlands guilders 9,980 23 23 23 - - 9,957 9,957 Other 10.931 10,931 L023_1 10 911 - Pounds sterling I 79TI 10,931 10,931 10,931

New Zealand 10,931 10,931 10,931 10,931 Pounds sterling 10,931 10,931 10,931 10,931 _ - _ _

IBRD - JuneJSTATISTICS 16,SCTION 1954 Table 4-c: PUBLICLY-HELD FOREIGNI BOiTDS; PART II, ISSUES INlEOFh

Bonds of Political Subdivisions of Countries Not Members of IERD

Changes in urincinal amount outstanding December 31, 1945 to December 31. 1952

(in thousands of U.S. dollar equivalents)

- . _ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Page Reduction in amount outstending Increase in amount oustanding -Borrowing country and currency Net By By Due to By new issues -of .denomination increase(+) amortization adjustment exchange By funding (including or decrease (-) Total of par rates Total of interest refundings)

Total -116.663 116,663 68,128 48,535 - -

Pounits sterling -111,291 111,291 67,409 4 3 ,882 - - -French francs - 1,039 1,039 642 - 397 - - Netherlands guilders - 4,333 4,333 77 - 4,256 - - hurope _-37,106 37,106 - - 37.10Q _ - - Pounds sterling -36,709 36,709 - - 36,709o _ French-francs - 397 397 - - 397 -

Hungary - 9,530 9_ - _30 - 9,530 - __ Pounds sterling - 9,302 9,302 - - 9,302 _ _ -French-francs - 228 228 - - 228

Latvia - 9.53, 953 - - 953. ____ Pounds sterling - 953 953 - - 953

Poland - 1,020 1,020 - - 1.020 - - - Pounds sterling - 1,020 1,020 - - 1,020

Rumania -169 . _ _ 169 -1- _ French francs - 169 169 - - 169 - - Table 4-c: PUBLICLY-HELD FOREIGN BOIDS; PART II, ISSUES IN EUROPE - Continuet

Bonds of Political Subdivisions of Countries lNot Members of IBRD

Changes in nrincinal amount outstanding December 31, 1945 to December 31. 1952

(in thousands of U.S. dollar equivalents) _Page 2 Reduction in amount outstanding Increase in amount outstanding new issues Borrowing country and currency Net BY By Due to By of denomination increase(+) amortization adjustment exchange By funding (including or decrease(-) Total of par rates Total of interest refunding)

RuEisia -25.494 25144__ 25,434 -__ Pounds sterling -252 -- -

Latin America 6o ' 8.52 - 2.9? 1 _ Pounds sterling _ O 6,i 57,9g - - - French francs - 642 642 642 -

Argentina -60,901 03 5532 _-90T 2,371 - _ _ Pounds sterling -.60,261 60,261 57,890 _ 2,371 _ _ French francs - 642 642 642 - -

Asla - 4. 3334 77 - 4,256 - - - Netherlands guilders - 4,333 4,333 77 - 4,- -

Indonesia - 4,333 4,333 -- 4.256 - - - Netherlands guilders _-4,333 4,333 77 _ 4,256 -

Other -14,321 14,321 9,519 _ 4,802 - - _ Pounds sterling -14,321 14,321 9,519 _ 4,802 - New Zealand -14,321 14,321 9,519 _ 4,802 - - - Pounds sterling -14,321 14,321 9,519 - 4,802 - _ _

IBED STATISTICS S'.CTION JUt[1 16, 1954 Puble 5: PUBLICLT-TIMLD7005IG0 BObDS; PAR 11. ISSUESIN EUROPE National end Government Guarenteed eade nd Bonde of Political lobdivisiens of IBMDMember Countries

Summery of treatment of bonds outstandin, during the period December 31 1945 to December S1 19S2

Period of Debt Treetnent Country default, odjotment pnln of Treatment of interest sPOeare Suture Interest Maturitles BRi"ng fond if any Type Dete orinoiosI Europe Austria Internatlonal Guaranteed None None - - Loan serviced r"gularly by Austria until March 1938. - Redeemed in 1953 by the Loan 1933 - 1953 - Serviced by Germar until July 1939. After that guArantor gvernmnts. all trenches ervice was paid by the guarantor goveruamnte.

Under London and Rosm Dgreemnts Germany sill mopen- sete guarantors for 58% of payments made from 1939-45 and Austrianill compensate them for 28.47% of pay- ment. on this loan and the Soar. Conr. Loan mde from 1945-1953 by payment totalliag equivalent of S. 175.000.000 from 1954-78. OGaranteed,Conversion Loan 1938-1953 C-3 1953 100% Loan serviced reguarly by Austria until 1938. Thero- Reduced to 4 1/2% fron 5% Extended to 1980 frce 1959 Cumulative enmity of - all trencios partial after, serviced by guaroator govermants. except 7.251565% for principal Ceschosloekia (24 1/23 share) and Interest.

Arrears (24 i/2% of coupons 1945-53) will be paid at 3% p .. from 1954_1. Gersay .111 coopeonate guar- entors for paymaets 1938-1945 by a peyment of 3 3,600,000 over a period of 15 ynars. Austrlis wil compeosate goarmotore for 1945-1953 payments as indicated under Internatiarnl Duaranteed Loan. International Loan 1938-53 C-3 1953 100% Un2pid coupons 1938-1945 to be paid by Soroy at 4 1/2%. reduced from 7% 1980. extended from 1957. Cumulative anmity of 7%, 1930 - *11 trenehos 75% of face value from 1953-1962. 7.254565 for prinoipal end Interest. Unpaid eouponq 1945-1953 to be paid at 4 1/2% by Austria from 1954-1962.

Provinees nd cities - 1938-1953 4-3 1953 100* lone agreement recommends mn equitable mettlement. blt To be paid at 75%of old rate Sot yet determined. Not yt deteraind. all currencia o announcement of specific teme has yet been meade but not exceeding 5 1/4% p.s.

Austria-Hungery 1914 to B-2 1923. Liability To be paid at eaen rte me carrent interest over 10-year To be paid at 27-32% of contract- present 1925 divided period on aoe bonds and over 12-year period on othrs. anl rateo (3-4 1/2,). Service (partial ewng of the debt te be administered nad successor by the Caieo Cozunn. interittent) states / D_2 1927 Arrears 1919-1926 settled in cash at 17% of face valao. 32% of face Volue. xtended fm 1985 to 1994 Anrtisation provided. (iron Gates oafa) D-2 1930 No change Interest to be paid at 28-33% Perpetual rentee exchanged tO be rstired by annities. of face Taln in 1931 eand riting for rented maturIg in 50 pers. to 70% in 1955 and on some bUndo to i0o% in 1976. Regular eervice vas paid by all the debtor until 1932. Auetrie and Casohoslovaodk continued servioe until 1938. Poland maintained ser- vice until 1934. Other debtors defaul- ted In 1912. Hungary. RumaBa and Tugosl an mde some paymnts in 1941041.

Some payments mede by the Ceisse In 1943-9. Table 5: PUIBLICLY-ULD POBEIOI BOND6; PAST 11, ISSBnS IS n psC (ceotinued)

National und Goveranent Guaranteed Bonds and Bonds of Political Subdivirione of IBRD MoSher Countries

Summary of treatenut of bonds outetarndr duriex the period December Ii. 1945 to December 31. 1931

Period of Debt Treatmet pnt 2 Country dofelt. adjsntuoot plan of Treatment of Interest arreare Future interest Maturities Sinkin food AuetriauM-b .ry (Continued) if nyr Tie Dnte prtntenel tG-2 c95n Payment of 27-54 of faee vnalu of 1946-48. Payu.t No prelvsion Conlderbl redptior by (fseoh6- of 1938-45 interest ot of funds siready transferred surrender of bood held in eloke.e but not relmesed. Csecbsslo . portion)

0-2 1953 No provision beare to be settled by pament 1954-o3 and by sale of To be paid at 60% of amounts No pre-sioe for redemption. (Auetrian bonds held by the Csaee. provided by 1923 gsreoenst Agree to etart regotiations portion) until 1957 uhen noew agree- by 1957. ment will be negoti-ted.

Bl-gium - all ourrencies 1941-1945 A-1 _ - fo audrreore paid up

Bolgian Congo - wissIfronz issues none - _-orld _ fter War II.

Coechoolovakia - sterling bonds 1939-1946 3-2 1946 100% Bonde In British ownership reneived interest regular,1 Reduced to 6% froo 8% Extended foro 1952 to 19. Suspended 1919-1946. Cuss- at contraotual rnte -utl 1946. Arrears 1939-1946 on lnele at 3$ p.a. startie oiter bonds being pld in fNll 1946-1955. 1946.

Denmrk - all norrsnoi.s 1940-1943 A-1 - - - SRiong fund anrear paid up aftar World Wan It ezmept sepotionso of U1.S. dollar issue.

P inland Sterlin bonds 1941-1945 A-1 1945 100% lterest arrear paid in full. S0 change So chage Arrears paid in fell. Swedish krory bonds Bonds issued before 1939 1943-1949 A-1 1949 100 inodt at 100% of face value 3% Extenied to 1983. Cu2. ativep. fund of

Bods iooed after 1939 1943-1949 A-1 1949 10i% To be pnld in full in 4 squaI lnoteloeuts 1950-1953. So change Extended to 1973. Porablein 20 equal ins4a19nt of priwcipal 1954-1973.

Praene - all currencies 1910-1945 A-1 - - Interest arrears paid up in full in 1945. Arrears pai up in funl In 1945.

Gerrany - all currencie 1934-1952 j C-3 1952 National government 100% 2/ Reduction of interest to; Extended: Camustive odin g frud of: Daws 5 loan (Arrears to 1944 calculated at 5% on Dames and 4 1i% 5% Tren 7% to 1969 froe 1949 3% p.m. 10ung loan (on Toung to be funded into 3% bonds de 1972. 4 1/2% froe 5 1/2% to 1980 froe 1965 0%p.a. KoaveroLonsekeee 1/3 of arrears to be funded. lS reduction 17 years 2% -..

Political oubdivisions 100% I/ 2/3 of arrears calculated at new lotereot rate to be New rates are 75% of origianl rates. Extended 20 years 1% cumulative starting 1958, Loaded, subject to a etnimmmnof 4%6and a to be increased in 2%to daXiecn of 5 114%. Ne. rates rae i963 on benis matur&lg after from 3-5 114 original rates 3-. 1967.

Corporations 100% 3/ 2/3 of arrersr to be funded. SBme as political subdivisions. To be extended 10 to 25 Cuastive at 1% 1958-62. 2% years. thereafter.

Oreece Sterling bonds Partial defaot donme - - Bilateral ogresente 1932. 1933. 1936. 1940. Unilateral - 1932-41. Complete agreement In 1937. Provided for payment of couopons at default 1941 to 27 112 - 43% of faen value. present

Trench franc bande 1893-1898 0-2 1898 io0 Servlce of etoroal debt plced under control of Iat.o Ioto-ret paid at 32-43% of fea So eoga. 1% o2 the rt l Iintenst national Finmncial Comaiosion. Certain rev-nuse were value of ceupuas. Icterast could 1898-1902- tereafter. pledged. Debt We servIced under 1898 plan until 1932. be increoeod Above this up to 2% p.a. if pledged revenues were

Partial defaelt none - - SBne as sterling bonde. 1932-1941. Complete dmfenlt 1941 to present. Table 5: POBLIOLT-fLTD FOREIGN BONDS; PART 1T, ISSUES IN DJR(WE (continued)

National Bnd Government Guaranteed Bonds and Bonds of Political Subdivi,010- of IBRD Member Con-tries

Sf of treatrmot of bonds outstanding doring the period December 31. 1945 to Doheber 31. 1952 pace 3 Period of Debt Treatment Country difanlt, adjostant plan of Troatnent of intee t arrears Yuturc interet M4aturities Sinking fund if oar Tos" Dnte nrincinal

Iceland nowr

Italy Sterling bonds Karnena, By. 1940-1948 B-2 1948 100% Paid in fu in ceah at contractual rate of 5%. 1% p.m. 1948-1950; 2% 1951-19521 3% thereafter. Extended to 1977 free 1959. i% p.a. cumulative 1953-1957; 2%there-

Credit Connsortium 1940-1948 B-2 1948 iti% Paid in ftll in cash at contractual rate of R%.ledened. Redeemed at par in 1948. -

Mia fr1no b0 1940-1948 B-2 1949 1% Arrenar 1940-1946 funded at 100% of faco value 1% p.-. 1948-1950; Z% 1950-52; 3% from JulY llteoded to 1977 from i6o. 1t1% P.. into -v. 1-3% bends, 1947-77 1, 1952 to eatority. Pdodued tfrom 6 1/2%. 1952-1956 asd 2% thereafte. Luxembourg noon - - - -

Nethorlands no0-

Norway - a11 car-recies 1940-1945 A-1 1945 100% No intermst default Uichanged. Unohanged. Sinking fond arrears paid up in foil in 1945. 4 Ottomano pUre - aoi currencies 191 -to 1923-6 Treaty of Lauanne provlded for division qf repepnibility No change. Interest and prinoipal to be provided by aonnitiao pree=ot for the debt ong the successor state on the basis of provided by the ototes. The follotizg otateo have (partial A territory nd reromzeo. cospletely dienhmrged their liability either by cnkh intermittent) payments or delivery of bonds; Iraq, Italy. Besnt Sta.ts, Palostine and Tronojorcdn. The onsettled ohares nre thone of; Albinla, Arab States of tbh Red Sen. Bulgaria. Greece and Yugoslavia. See below fw Turkioh eottlement. 1929 100% Fonded into oon-iotsrest bearing bondo. No change. Turkey is to provide an annuity of IT 2,000,000 (Tukibh stnrting in 1929 end rising to 1T 3.000,000 is 1952 portion) end thereafter. Turkey deleyed payments until 1931 nnd then mndo partial payoents 1931-32.

1933 100% All Pnded. 7 1i2% 1982. Service to be in trom (Turish oid Ottonen of annuity. portion) bends _ SNe Turkey cheaged for foy subequOent Tirkish tratmant 7 1/24.1933

Turkey City of Constantinople 1914-1921 0-2 1929 1i00% Coupons of 1922-1923 had been paid en due date. 3 1/2%, reduced fr.m 5%. Coupons 'V Extendet to 1962 fono 1959. Soelice of loan to be annuity sterling bonds 1924-1929 other coupons in arreare up to 1929 were paid regularly at 3 112% mtil 1939. of £37,400 rising to e60,000 at 20% of famce valse. in 1945. Secured by pledge of co:rtain tolls and tares. 1939-1946 None 100% Coupone 1939-1946 paid in sterling with some No ehange No chone. No charge. (payments delay Interest paid regularly since 1950, delayod) In 1939 Turkey moanunced that tranefer could only be mde by exportation of oerch-ndle. In 1944 British Government agreed that ervice vonld be a charge on the Commodities Account sot np by Anglo-Turkiehb,aGarte egremet.

1947-1950 1 1950 100% Arrea, r oottled in foil d srvic rorod ae No change No oh ge No chgv a ckarge on the conmodities account

City of constant;nsplo 1914-1934 C-2 1934 100% Iotereot 1914-1934 cancelled. When bonds core Coupons paid at 60% of face valae etarting No nge. Bonds nil French franc bonds rodoneed in 1950, a cneh payment of fr. 100 per in 1935. No-inl intorost as0 5% and it was redeeed in 1950. laturity fr. 500 bond so anmdeon aecoont of arrears, thereby reduced to 3%. w- 1964. table 5: PUBLICLY-ELD F01EIaN b'OSD PART II. ISnNS DNZUHoPJ (continued)

National and Oovernment guaranteedi onde and Bonds of Political Subdivisions of IJRI Member Countries Su,nry of treatment of bond, o.tatanding during the neriod. December 31 19454 to December 31. 1992 Period of Debt Treatment Countryi dfeult. adjustment plan of Treatnont of interemt arrears Puture Interest Maturities Sinkin fund if aw TVe Date primioal Tnrkey (continued.) Swiss franc bonds 1914-1929 D-2 1929 A0Arrears of interest fundsd into non-intereot bearing Payable at 50% of nominal rte. No chae. To be retired' by annuities bonds at 50% of nominal alue. provided under 1929 agreement.

1939 Service rinee 1939 has been paid Sam as Interest. in Turkish lir. French franc bondie 1936. 100% No arrears. No change in rate. By 1936 agreemet Bo change . San as interest. 7 1/2%, 1933 5/ 1938 service was to be paid 50% in foreign exehn6ge nd 50% iu liras to be ued for purchse of mrchsndise In Turke. 1938 agreement provided for psaynt *11 In inrohs isse.

French franc bond 1939-1943 1943 100% Arrears 1939-43 to be eettled In full by a eash - oe. To be redeeed over 10 yars. one. 7 1/2%. 1933 (fr 500 or pmeynt of fr 168.75 or SY fr. 10.44 per fr 500 Sw.fr 31 per bond. To be paid over a period of 10 years. fr 500 bond peble "er 10 pars)

1944 1943 offer Increased to fr. 866 or SN. fr. 41.44 per fr 500 bond.

1946 1944 offer decreased to SY. fr. 23.40 per fr. 5M0 bond. 1948 Offer of fr. 2.000 for principal and intesret arreare.

United Kingdom DepdenrcSei no - -- __ Self-governing colony southern Rhodesla onor

Yugoslavla Pont World War I loane - 1932 to non - - Partial pments node under temporary adjustant eall currecies present plaas 1932-1939. Pre-World War I loon. - 1915-1923 A-1 1923 10% pait up in full. No chnge. No cm e. paid up I fell. No chage. all curreacies except nd trench france 1932 to present D 1930.) 1933 ) Serviced under these agreenwnt in easeanr n Wrench gold. franc loan. (see bela) except that aarrene provisios 1936 aapplying to drench francs do net apply to other bonds.

reOnh gold freno bonds 1915 to Interest paid in paper francs. present (partial and Intermittent) D-2 1930 55-100% on Settled at 40% of igld vlue, partly in each sod No be paid at 5% of face eaice Rateoded to 1975. To be re"srd in 1933 for a ricing scale partly in arrears certificates, starting in 1930 mnd at rising redemption at prices corres- percuetaes op to lo% in 1958. pending to tha percentages Servlce cntiind udar thls plan at which interest will be paid. until 1933.

D-1 1933 1933-5 interest paud 10% in cash "ended i 1933 and 90% in funding bonds or nO%d in blocked diners. Table 5: PUBLICLY-m_LD 9oIOhn BONDS; PAM II. ISSIIBS IN BUhPE (continued)

National and Govoroment Ouaraeted Bond. ed Bodas of Political SnbdirleiOne of lSR Member Countries

Ssan: of treatment of boeds outetaniAg duriaz the meriod December 31. 1945 to December 31. 1952 Pea. 9 Period of Dabt Treatment Country defalt, ajutment Plan of Treatment of interest arrears F\iture interest Maturities Stnklng fund if ea" TIro Da-te mrinonl7-

Tuoolevfa (coottant d Preanch gold frea. bonds D-1 1936 Intereet to be paid 15% In cas, and 55% 30% of interest to be in fundig bonds. depoeited in sinkg food.

D-1 1938 1937-1939 interetn paid at various A fund of fr.25 million percentages. to be provided for asor- ttsation of ail bends. Annuty of dn. 46 million. D-1 1939 Intereet to be deposited In dinars and paid undor payments agromeont.

D-2 1951 Interest to be paid from proc-ets of for period amporte: 8% of esporte in 1951-2. 1951-1954 10% in 1952-3 &12% tn 1953-4. A total of fr. 407 par bond wno pali under this plea.

Latin America

Brasil 1931-43 1944 (option of Sterling bonds Plan A, or B) Redouod to: Fateoded to: Oomnlatimee siki od of; Plan A X-tiooal govoeronnt C-2 10Pn) Coupons settled at fro. 1.6zj% to 5G4 of face lnio. 1 1/2 - 3 3/8 from 4-6 1/2% 1952 - 2J56 0.34 - 1ios6 i Involved total cash payment of £1.039.636. Coupons States 10Z, ) 1931-34 ead been fundd in 1954. Coupe. 1934-43 1 5/8 - 3 1/2% from 5-4% 1953 - 2143 o.o6 - 9.it% Cutie 101%) recrived partial payrnots (40-504) under plant of 1 1/2 - 2 1/S from 4 1/2 - 7% 2010 - 2068 0.13 - 0.76* 19,34 mad 1940. Plea B National government D-2 Per £100 bond Reduced to 3 3/4% no maturity COmslative siaking fund of (9 S0 in bonds: 0.61 - 34.22 (1 5-12.10 cash Sane (1 50 tn bonds (X:7.l10-1010 es h

States sam Patlo Coffee Loan (eBo tobends Reduced to 3 3/4% NoSatrsity 13.74% (£14 in cash plan others (£50 in bond. Reduced to 3 3/4% No maturity 0.18 - 15.224 (e4.10-17.10 ash

citi,. (£50 in bonds A Reduced to 3 3/4% No meturity 0.36 - 2.11% CZ 3_11 in cash Grade VIII bonds j/ 1944 L2S Osncelled Redeemed Offer of rodept1on in Redeemed. 1944 at 124 of face value

French franc and gullder boands 1932-1946 D-2 1946 55-50(4 All bonds sith .npaid coupono attached were redeemed Bone. Redeeed. R deemed. at price ranging from 55, to 500( of face value of the bonde. Brasil established a Liquidation Pod in froacs equivalent to $19.320.000. Table 5: PUNLICLY-RELD FY3IGN MINDS; PAT II, ISSUIS IN EUROPE(continued)

National and Government Ouareanteed Bonds -ad Bonds of Political Subdivisions of IMP Member Countries

Suimary of treatmen.t of bonds outstanding duris, the period Dceber 31. 1945 to Decembor 11. 1912 pae 6 Period of Debt Treatment Country default. adjetment plan of Treatment of interest arrears Future interest Maturities Slkin fund itf ae Tro t ate orlneSiral

Sterling bonds 1931-1947 Z/ C-2 1948 100% 1936-1948 payments under 1935 Plan smoocted to total 1 1/2% to 1948, Increseing to 3% in intended to 1993. 1948-53 ,2.531.000 general of £ 16.95.2.04d per £1O0 boad for arrears totalling 1954. Reduced from 4 1/2-% siking fond for dollar, £ 72 - e 128. SBndholdero sot assented to 1935 Plan sterltg and Swiss freno rnesi-d the abobe In cash at time of amoeat to 1948 bonds. Iro 1954. 1% p.m. Plan. cuimlattie.

Swims franc bonds 1931-1947 C-2 1948 100% 1936-1948 paymnts under 1935 Plan amounted to a 1 1/2% in 1948. Inoreasirg to 3% rrtended to 1993. Some am sterling bonds. total of S.. fr. 85.78 from 1936-1942 and 4$18.52 tn 1954. Reduced from 6%. from 1443-194S per S.. fr. 1,000 bond for arrears totalling S-. fr. 78. Bondholders not assented to 1935 Plan reoei-od the above Io cash at tim of aomec,t to 1946 Plan.

Colocbia Sterling bands National ov-ernmant 1932-1944 C-2 1944 100% 50% of arrears 1932-39 end 60% of arrears 1940-42 To be paid at 50% of original ceontract- Bonds have no fixed Cuoulntoie at rate of C.6% funded Into 3% bonds due 1972. Be. bo.de amounting ual rateo or 2 1/2 - 3% redueod fro maturity but are redes- p.m. 1942-46 and 1% p.a. to £ 21.5 - £ 25.2 given for arrears of £ 40-48 per 5-6%. able by saking fund. thereafter. £ 100 bend.

Agricultural ltgs. lank 1933-1945 C-2 1945 100% 5% rash bonue to mettlenet or £ 5 per £ 100 bond 3% reduced from 6 1/2%. Sle ae sationel sne me natioenl govern- for arrears of £ 52. government. rent.

Costa Rica Sterltig bonde and French franc 1933 to nore - - Couose 1933-1936 paid In funding bonde. bonds present RonOAdor Sterling bonds Gumaquil &Quito Ry. J 1913-1953 0-2 1953 100% rrears Of approotlatoly $2000 per $1.000 bond emn- 2% In 1954, 2 1/2% 1955. 2 3/4% 1956, No maturity (former COnlattve sinking fod of eelled. A eonh beons of 5% will be paid In 5 inetal- 3% thereafter. 1932) 3/14 p.m. 1954-58 and 1% onte 1954-8. thereafter.

SAlt Bonds LI 1' 1915-1953 D-2 1953 100% Coupons 1/1/15 - 1/1/29 paid with delay. Arrears of 1 1/2%it 1954. 2% 1955. 2 1/2% there- No maturity. Cumlatlve sining food of $86.40 per $90 bond cancelled. A cash bonus of 5% after. 1 1/2% p.a. starting 1954. will be paid In 5 instalmastse1954-8.

Gold Condores Bonds 1912-1953 D-2 1953 100% Coupons 1912-1920 paid In 1928-29. Arrears 1921-1953 Sase as Salt Bonde. No maturity. Seamen Sumyaqtil &QOito ht amounting to £ 132 per £ 100 bond are cancelled. A cash bosom of 5% vill bs paid in 5 Insotalment 1954-8.

Trench franc bend. 1913 to present none _ _

El Salvador Sterling bends 1932-1946 C-2 1946 100% P-rtial paynents in cash and certlficates had been 3 1/2%. redueed from 7%. Extonded to 1976 from $800.000 p.m. for payment de mn coupons of 7/1/32 - 1/1/38 under plans of 1957. of interest and aemrtioa- 1933 snd 1936. Under 1946 plan certificates were paid tion of 3 dollar isoue aend in cash at 15% of face alue and unpaid balance of I sterling iseue, 1932-1938 ceupons nettled by cash pay.ent of £25 per bond. Coupons 1035-1946 funded at 50% into 3% bonds due 1976.

Guatemala Sterling bonds 1933 to A-1 1944 100% Coupons 1940-44 said with some delay. No payments None. Offer of redemption at No payments dnee 1933. present since 1945. face anlue cde in July 1944, expired Jan. 1945 Table 5: PUBLICLY-MD FOEIGN BONDS; PART II. IS5S5U IN TUCE (Contlsmed)

atlonsel and Goernment Guareateed Bonud and Bondo of Political Sabdivisione of IBXD aember Countries

Sum*ery of treatment of bonda outetanding donni the mendro December 31. 1945 to December 11. 19S2

Period of Debt Treatment Country defealt, adjusttnn plan of Treatment of Interest arrears Futune interest Hnt3rities Staking fo*d If any Ores Dote orincimal Honduras Sterling bonds lS72-1925 D-2 1925 20-25% Toeal arrears mnouating to approximtely Eons. lltended to 1956. All bonds £5.398,570 old pan £25,000,000 on 4 ltsuse -re cancelled. finilly redeemed in 1953. Talne of bonds settled for £1,200,00O to be paid In 60 seat-annual tostaiments of t20.000 each for retirement of bonds at 20% Of face Talue in let 15 years and at 2% in nxt 15 yeare.

Mexico Sterling bonds Dlrect Sebt 1914-1942 D-2 1942 20.619% (tioo 1% of coAtraattal anount due In full dtlabArgs of Coupons reduced: Etended to 1963 end 1968. Secured debt to be bons exchewe- 1923-I4 arrenr. %of %paretlred by 1963 at rtoe of able for a s Typ1 f1r on nbe 45.000.000 p.a. of old dollar bood of of value of par of par vale. Other debt $83.093) dobt 0011as bonda to bs retired In equal Secued 24 4.65- instalmnato 1964-68. 6.90 Unsesred 14 3.44 Intornal 12 2.53 & 2.77

Bailwly debt 1914-1946 1946 (Option of Plon A or 2 Plan A D-2 20,619% (nao taSam as direct debt Coupons reduced to Is% of old fare Extended to 1975. 1.78 cumlative direct debt) value resulting In Intereet rates of 3.B-5.3%on new par value.

Plea B P-2 21.43% - 100% Same aos direct debt No interest. Porner rates 4-6% Same s Plan A. Bonds to be retirod by a cunalativ annuity at redemption princes of about 21% in 1946 rtsing to 10$%in 19710. yLoaroa. Sterling bonde 1931-1937 D-2 1937 100% Eo arreare of interest. 9. reduced from 5%. 1957, extended fron 1944. 1% p.n. onmanivte. aLll bends redeemed In 1953.

Paraguay Starling bonds 1920-1925 D-2 1924 70% Arresrs 1921-25 asountiog to l3.10-f22.10 par 3%, formerly 3% and P%.payments oade ENo atrity. 24.315 p. for 1886 (prevlous £100 bond were funded at 50% of face valu Into regularly 7/1/23 - 1/1/33, end 1S96 bends and delays of soc-lntereat bearing certificates. £lO,B6l for 1915 bondo. rvice In 18S2-6 and 1914-19)

1933-1945 1945 No chano Coupons of 7/1/33 - /1/36paid at faeo value Resomd4 an uder 1924Plan No nines free 1924 Plan. Payment under 192t4 from 1924 plan from 1938-1945. Coupons of 7/1/36 - 1/1/45 Plea rene ud In 1945. paid in 1945 at 39% of face Talue. Table 5; PUBLICL-M.D 70IGC BONDS; PART II, ISSUIS mRDIRTI (contined)

Rational and oeronet Guaranteed Bood. d Rood, of Politiol. Sobdlision of IDM Member Cootries

S womaof treot=ot of bonds outat o, turing the ertd poe-ber S1. 191945 to Deceber 31. 1952

Perlod of Debt Treatm t Country afelt adjuot_nt Pla of Treatmnt of intrest rrears tre Iterst Maturities Stakg fund If a toe Et becrineteal Peru Sterling bonds 1931-1947 0-1 1947 $28o per Gl00 CanelLad (no below) RInced from 5-4. To be pai at 1% Extended to 1997 free 1961 1/24 oclativa. 12/ fL 1947-S. 1 1/12 in 1949-50, 4 In and 1965. 1951-2 ead 2 1/24 thereafter.

0-2 1953 174 oad 1714 Arrere 1931-1946 anonting to C77-90 per C150 bond 3% etartiog 1954. Ixtended to 2007 and 2C08. 1/2% wouletive starting to be funded at 10% intoi ot iteraet bearing bWade 1954. or scrip ioh Le to be retird in 15 equal aal inotsineote tarting 1954. Arreare 1947-53 to be eattlad by a coeb payment of 10.5-11.23% (equivalent to payets which nereo under 1947 Pla * All arr are to be clculated on th origial terling face :o of the boaue.

Ur.agW Sterling bonds National gever".nt 1931-1939 3 1/i;. 1891 8-2 1939 100% Paid in full. Coatinud at contractoul rte. Extended to 1999. 1/24 omliative.

3%. 1896 C-2 1939 100% 56 coupon tao 1933-1938 paid at 3 1/24 ln 1939. Reduced to 3 1/24 fro s%. Ixtended to 1943. 20% ror_ctt_ Cash bane of 5%.

3O.. 1905 &1909 mi/ 0-2 1939 100% SRom 5e . 1896. Reduced to 3 1/24 from 5%. Extended to 1979. Crolotile of 1/24 in 1939-400, 1%i 1941-403 end 1 1/* thereafter.

%S. 1914 £ 1919 0-2 1939 100% sare as 5%. 1896. Redueed to 3 1/24 from 9%. Exteaded to 1978. bnlintiv of 1% in 1939-43 &1 1(2 thereafter.

City of VOotidso 1933-1939 0-2 1939 100% Sa s me f. 1896. Reduced to 3 1/4$from 5%. Extended to 1961. 3% olative. la/ Asia,.m Bon none - - -

Ceplont non-

China - all oaurrenie, Gov-ormnt bend 1939 to pree t noe - - Ralliy bWad 192D-1937 IV/ 0-2 1937 100% o0%of arrsto he funded. On met bonde reduced f roe.3 to 2 1/24. Entended p~to 25 yrears. New WMlaive tnin Othr bod. provided for further f-ad establishd,. roductio.e withiLreet inrreeselo on gradate& el 1939 to Present ner

India "non - - -

Iran none

Sterli bende 141-1952 3-2 1952 100% To be paid in full comr a ton-yoar period starting No chg. Courreo clauses to be Extended 10 or 15 years. ContsaCto1 eI ng fund S g/ in 1952. In the ones of beonds havig dollar honored by py-t in etorliag equi promidoa to be reasab- clauses. arrear wil be paid in oterling equiv lent to iollnr wlue otntod in contract. lloehd after readj.atant lent to the flxed dollar olnon of tbh coupneC.On for loer onO of bends bornd p*Vable in sterling only. arrears wil be ontsanding. paid in oterling eqvaleot to dollar voie at curreat rate provmllnd 00 dAte of -turlty of c.upon. Table 5: PUBLICLY-hmllD OREIGI BCEDS; PART II, ISS2S 1I SUEtB' (continued)

Xattonal and Gomer=nent Guarfnteed Bonds and Boote of Politicel Subdivistone of IUED Member Countris

Summary of treatMent of bonds outotandlnr durine the reriod December 31, 1945 to Deoonber 31. 1952

Pertod of Debt Treatment Country default sdjstment plan of Treatent of interest arreare Puture Interest IhturitSe- Sinking fend if aon Tyne Date nrincim)l Japan (continoed) Prench franc bonds Irp. Jap. Goevt. 4%. 1910 1941 to premest The baste on which this issue should be serviced Is in diepute. Tokyo 5%.1912 1928 to present The basti on which this iene should b serviced 0. in dtspute.

Thailand mno _ _ _

Others

Australia none - - -

Canada none

Papt none

UMiomof South Afrlo nonr

Debt adjustent plans are typd according to treatment received and the manner ln which the adjust.ent was reached. The letters refer to the former and the mmbers, to the latter, as follow:

Type acoording to treatment:

A. Prior to adjustment sinking fund w principal was in default, but Interest was paid regularly at contractual or reduced rate. Adjustment tnvolves cooplete sttlemnt of contractual obligations.

B. Adjastment provides for small reduction in interest, no chnmge In principal, extension ef mturity and full settlement of interest arrears.

C. Adjustment provides for redutiton of Interest, no change In principal, stentsio of mturity, and partial settlement or cancellation of arres. D. Adjustment provides for reduction of Interest rate eand/or principal eonnt.

P. Adjstment provides that principal ant Interest remain unchanged, but that maturity be c.tended and/or arrears partially settled.

J. Adjustnont provideo for an exchange into cumslative bonds without current Interest payments. G. Teamporary and Incomplete settlement of portion of debt.

Type according to negotlttons:

1. Unilateral. 2. Bilateral.

3. Xultilateral. Table 5: PURLICLY-EMD 11IG0 BORMDS;PART II, ISSUES INI BUR' (continued)

Rational and Govermenrt Ounrenteed Bonds end Bonds of Political Subdivision. of IIRD Member Countries Snsan of teratment of bonds outstandinx durhnx th neriod Decesber 31. 1945 to December 31, 19S2 Pats 10 ;/ The successor states ss Austria. Csechoslovakia. Rungery. Italy. Poland. Rumaniat ned Tugoslavi. ;/ All foreign debt was serviced regularly until 1934. After tint. holders in variou countrle. received partial paynents under various offere. After the start of World War 11 Gerany defaulted on various trenches of her lons as she vent to war with each country. Swedish and Swios bondholders receivd totel or partial service until 1945 hn all obligations went into complete default. 2/ The following principles as to currency sad gold clauses were set down in the settlewent: a. Toung loan - vale of currencies to be paid on varlou treanches Is deterneusd by converting the nominal ecnunt into U. S. dollars at the ratse prevailing at the tl of lssef end to then reconvert this dollar amoud aurrencls at the rate prevailing on August 1, into the reoepctlve 1952. Should Ks of the currencies alter by 5% or maore. intalmnts duo will be calculated on the basis of the lent depreciated currency (in reatloai to the rcut of AUgust 1, 195Z) end then reconverted into the currency of iesa at the rats prsvailing at the tlma of payment.

b. Debts payable In gold dollars or gold Swims frcncs - 1 gold dollar = 1 currency dollar; 1 gold Swiss franc m 1 currency Swiss franc. a. Other debts with pld clause (excluding GOermn currency debts with gold clauses) - emount due is computed by converting the nosinal aeount to U. S. dollars at the rats prevailing at the tim of lese of the bond end then converting this dollar amount to the nominl currency at the current rats such aZout due not to be less than if it were converted at the rate prevailing on August 1. 1952. d. Oermn currency debts - 1 Deutsche crk bhall be equivalent to 1 Goldmark or 1 Roichemark with a gold elause, and 1 Deutsche mark shall equal 10 ReichoDarks.

f/ The uccessor states wre Italy, Albania, ulgarla. Gnrece. Bedjd, Serbia-Croatia-Slovenia, Iraq. Syria, Lebanon, Transjordoa, Haed$5. Aesyr, JTan. Hean end Turkey. 5/ These bonds were Isenud in 1933 In exchange for bonds representing Turkey's eh-re of the debt of the Ottonen Zmpire.

/ Comprises bonds oef Aessae. Meanes. Bahia. Ceer. Par (state end city), Rio Grande do Norte.

7] Partial paymeats avrnging £1.3 per n100 bond were made on coupons of face value of £4.5 - £8 under the 1935 unilateral plan. D/ Theeso bonds are denominated in dollars but were lued in London. 2I Previous defaults in 1912 ad 1917-20. Interest reduced from 6% to 5% and arrears settled in 1920 by part cash - part scrip payents. Seroice relsued in 1920 and paid regularly to 1931. 12/ Initial offer was to exchange sterling bonds for Series N dollar bonds at al = $4.00 plus a cash payent of $0.03 per £1 of par value. In 1949 this was reduced to El = $2.50. Roth sterling bonds had dollar clause In their origisl contracts: Rep. of Perm National Loan Secozd Series 6%. 1928-1961 - p4ayble in dollara or sterling at X1 = $4.8665. Cit of lioa 5%, 1911-1965 - payable isn dollars or sterling at £1 $4.80. I1/ These r-engtes were established on the bhaui of the relationship between the 1953 dollar-sterling exchange rate (£1 = $2.80) and the valuo stated In the original bond contrcts (see fnotnote 8) or = 1.74 sechAalnc, the bondholder receives a new redaption value which ftJ66 end 4.80 = 1.71. BRythis is the sterling equivalont of the dollar value of the bond at the exchange rate stated in the contract. 2.80 2.80 fl/ This issue is denominated In pounds sterling ad Trench francs and was issued in Trance.

I/ Interest 1892-1898 not paid in full at the then contractual rate of 6%. Interest rate reduced to 5% In 1898. V/ A large group Of bond is ummarised hare. Defaults started in 1920 but ome bonds did not go Into default until as late as 1925. I/ The following principles were followed in the settlecent as to currency clause.: A. Bonds payable in ponmds sterling only sill recm a 10$ of nominal value of bonds and coupene in sterling. b. Rondo having sterling-dollar clasoee will be paid in the sterling equivalent, computed at the current rate on the due date, of the mminal dollar value seated in the contract. c. The 5% bonds of 1907. which natured in 1947. will be paid at the sterling equivalent of the dollar equival6nt of the nominal value computed at the exchange rate prevailing in 1947. d. Past de coupons of bendis payable in sterling only will be paid at the sterling equivalent of the dollar equivalent of the nominal value computed at the exchange rates prevailing at the date Of mturity of the coupons. Table 6: PU3LICLY-MELD FORLI-GN iOWDS; PART II, ISSUES IN EUROPE

National and Government Guaranteed, B3onds and Bonds of Politicel Subdivisions of Countries rot Members of IBRD

Summary of treatment of bonds outstanding during the period December 31. 1945 to Decembor_. 19S2 Page 1

Period of Debt adjust- Treatment Treatment Country default, ment mLan of of interest arrears Future interest Maturities Sinking fund if any Type Date principal

Europe

Bulgaria

Pre-World 1915-1921 D-2 1921, 40-100% Arrears and service Interest 1924-5 paid at Redeemable by sinking To be suspended until War I bonds 1925 & utpto 1924 paid in 30-42% of face value. fund; maturities to be 1933. Redemption to (French francs) 1926 full in French francs, Under plan of 1926 cou- extended up to 8 years. start in 1933 atfrie! 0ors to be paidi at 35.- corres-nonding to 49% of face value in 1927 percentages at ohich graduating up to 71.5- interest is to be 100% by 1948. Interest paid. This provision was paid under this plan was never carried until 1932. out. 1932 D-1 1932- No Drovision No provision Coupons were paid at No change. Remained in suspense. 1940 rates varying from 10- 28% of original face value during 1932-1940 period.

1940 None - _ - Payments made at rate of _ 40% to holders in France and Netherlands up to 1945. Table 6: PU3LIcL-Y..dLD FOZIt,lGBONDS; PART II, ISS-UDS HELD IN EUROPr

National and Government Guaranteed Bonds and Bonds of Political Subdivisions of Countries Not Members of IBRD

Summary of treatment of bonds outstanding durina the neriod December 31, 1945 to Decenffar 91. 1952 Page 2

Country Period of Debt adjust- Treatment Treatment default, ment plan of of interest arrears Future interest Maturities Sinking fund if any Type Dnte prinninlp Bulgaria (cont'd) Post-World 1932 D-1 1932, No No provision Payments made at varying No change Suspended War I bonds 1940 provision rates from 25-50p in 1932- (sterling and 1940 period. French francs)

1940 None -

All bonds 1948 2i No Fractional payments Fractional payment offered No change Remains in suspense provision offered on 1949 coupons

Danzig - ster- 19940 to B-2 1937 100% No arrears up to date To be reduced to 4 1/2-5% Extended 5 years Cumulative sufficient to ling bonds present of plan from 6 1/2-7% retire bonds by maturity

East Germany - 1933 to None - - Partial payments received - allcurrencies present 1933-1939 and up to 1945 in Sweden and Switzerland.

Estonia 1940 to None - present

Hungary

French-franc 1932 to D-1 1937 No Partial payments l>, reduced from 6-6 I/2% No change Suspended since 1932 bonds present provision 1934-1937

1948 75% A percentage of ex- None To be redeemed None ports to France is to be allotted for purchase of at5ithof faceacd coupons Table 6: PU=3LYCLy-YLDW D 3G1iOIGUDS; P_2T II, ISSUZ.S ESLD i EbROPE

National and Government Guaranteed Bonds and Bonds of Political Subdivisions of 6-nmtries Not Memhers of IBRD

Summary of treatment of bonds outstanding during the oreriod December 31. 1945 to December 31, 1952 Page 3

Country Period of Debt adjust- Treatment Treatment default, ment plan of of interest arrears Future interest Maturities Sinking fund if any Type Date principal

Sterling 1932 to C-2 1937 1OO/ Paid at 50p of face Hungary 7 1/2%, 1924 re- 7 112%, 1924 bonds extended Cumulative sinking fund bonds ,/ present value duced to 4 1/2f. Bonds of to 1979 from 1944 provided but no amort- political subdivisions re- ization has been made duced from 4%.-7 1/2,i to since 1932. 1 1/2,%-1 3/4%

1941 Provided for service to be 1/6 of amounts due under 1937 plan.

Swiss franc 1932 to D-1 1937 No Interest 1932-1937 Reduced from 4 1/2% to No change Suspended since 1932 bonds (City present provision paid in blocked 1 5/8%. Payment at this -of Budapest) marks rate continued until 1944; 0.75, p.a. paid in 1947 and 1% 1947-9

1949 Offer for - purchase at 21%

Ireland - ster- None - - ling bonds

Latvia - Swedish 1940 to kronor bonds present Table 6: PUBLICLY-HDLD FOMIGN BOlNDS; PART II, ISSUS EEI2 IN 7t1mP?

National and Government Guaranteed Bonds and Bonds of Political Subdivisions of Countries Not Members of IBRD

Summary of treatment of bonds outstandinc during the neriod December 31, 1945 to December 31. 1952 Page 4

Country Period of Debt adjust- Treatment Treatment default, ment ulan of of interest arrears Future interest M4aturities Sinking fund if any Type Date principal

Poland Sterling bonds 1936 to B-2 1937 100% No arrears at time 3 alternatives Extended 20 years Amortization to be main- present a. payment in £ at 35% of tained by surrender of face value (4 1/2% on bonds available for pur- the 7%, 1927 & 6S, 1927) chase in the Polish mar- b. funding into 3% bonds ket c. full nayment in blocked zlotys

Lire bonds 1939 These bonds were guaranteed by the Italian Government and after the Polish default were converted into Italian Treasury 4% bonds.

Portugal None An offer of conversion into internal bonds was made in 1940.

Rumania 31

All currencies 1914 to D-2 1928 Redeemable Funded at 20-100% To be paid at 20-100% of Several issues ex- To be paid at same rate present on gradu- original contractual rate changed for gold lei as interest ated scale on rising scale. Payments bonds 20-100% continued at these rates starting in until 1933. 1929

1933- Payments made at 25-66% Suspended since 1932. 1941 plus funding bonds. Table 6: PUBLICLY-HELD FOR2IGW BOlDS; PART II, ISSUES HELD IN LUARPE

National and Government Guaranteed Bonds and Bonds of Political Subdivisions of Cour.tries Not Members of IBRD

Summary of treatment of bonds outstanding during the neriod D.ecember 31. 1945 to Lacember 31, 1952 Page 5

Country Period of Debt adjust- Treatment Treatment default, ment n1an of of interest arrears Future interest Maturities Sinking fund if any Type Date orincinal

Rumania (Contd) 1947 Swiss holders received offer of purchase at 10% of face value

Russia - all 1917 to None currencies present

Spain None

Latin America

Argentina

Sterling

National None None - - government

Province of 1932 E-2 1933 100% To be funded into 5% -To be-paid at contract- Unchanged To be susgended for 3 Buenos Aires arrears ctfs. ual rate. Certain loans years and resumed at con- to receive payment in tractual rate in 1936. pesos 1933-35; foreign exchange to be paid if available. To be resumed in full in 1936.

City of 1932- B 1935 100% 11/1/34 coupon paid At contractual rate. Unchanged Suspended for 3 years Rosario 1935 at 50% of face value, and then resumed at con- other ioterest from 11/1/32 tractual rate. to 11/1/'1L4 we.ived~. Table 6: PUBILIC.Y-OILD FOPEIG1T BONDS; ?ART II, ISSUES EELD IN EUIiDPE

National and Government Guaranteed Bonds and Bonds of Political Subdivisions of Countries Tot Members of IBRD

Summary of treatment of bonds outstanding during the neriod December 31. 1945 to December 31. 1952 Page 6

Country Period of Debt adjust- Treatment Treatment defaalt, ment plan of of interest arrears Future interest Maturities Sinklcing fund_ if anv Tyne Date principal Argentina (Contl.d) Swiss franc Nione - _ _ bonds

Asi.

Indonesia lione -_

Otne_

i;.":! Z-:-.l^nd Nono

Note: See Table 5 for classification of debt adjustments. ] Never put into operation. In 1952 the U.K. Government alnounced that Bulgarian assets amounting to £110,000 would be distributed to bondholders and other creditors. However, no such distribution has yet been made. ] In 1952 the U.K. Government announced that Hungarian assets amounting to G6oo,0oo would be distributed to bondholders and other creditors. / In 1952 the U.K. Government announced that Rumanian assets of &7,000,000 would be distributed to bondholders and other creditors. However, no distribution has yet been made. Table 7: PUBOLTOY-TMI)YOREIIH ON DS0: PART II. 120122 IN 102112Z.ZUR2ICH.. iA.ST}lRDA2 PARIS, 12T02011 AilSD1RJS5110 Nlationaland Governmet GuaranteedBonds of 1120He-ber (cunorles Pricer mad ec.1945-1954

______Sod of mecied ______~~~~~~~~~~~~bet-een ~~~~~~~Difference loertv¶r.5ciutiry .....d2M1 1947 .. .2....198.1950 .23..5 92_n_195 ii'? 35ld19...44 .od II ~~~191*6 tm Price. Yield Price Yield Price Yield rice Tield Price Yield Price Yield Price Yield Priee Yield Price Yield Price Yield Pie Yld P Ie Yield Price fiold LoQndonmce Gore-emt beadl (Iniernal) Grsat Britaln 2 1/2%,-1967 1J 100 7/8 2.501 104 1/4 2.243/ 95 3/8 2.84 98 3/4 2.6i 92 7/8 3.06 91*518 2.95 84 3/4 3.86 84 1/2 3.97 90 1/4 3.45 94 3/4 3.0c6 ------Eurepe Aumtrda7?%.(5%) - 195? 32 3/ 22 3/ 14 3.,12 1/2 3/ 24 1/2 3/ 21.1/2 3/ 39 1/2 I/ 60 3/ 86 1/2 6.40 110 6.75 +28 - -*47 1/2 - +78 - BelgIum4% - 1970 100 1/2 4.il 104 1/2 3/ 101 2 988. 101 1/2 1.503/ 99 1/2 4.03 97 4.27 91 1/2 4.74 886 .0 98 1/2 4.18 100 4.06 -12 1/2 .1.08 - - - 1/2 +0.05 Demeark3 1/2%- 1972 101 3.463/ 101 1/2 3.50OV 102 1/2 3.41?' 93 1/2 4.04 83 1/2 4.83 85 1/2 '4.70 80 1/2 5.20 82 5.11 83 5.07 92 4.29 -20 +i.65 + 1 1/2 - 0.09 -10 +0.83 Finland 5% - 1963 105 1/2 4/ 101 1/2 4.163 92 1/2 3.80 80 1/2 7.2.5 87 6.52 92 1/2 5.92 93 1/2 5.87 92 1/2 6.oS 95 1(2 5.71 97 5.56 -13 - i-1a - 1.19 - 8a1,2 - o,or-.7 s%- 19693 4/ - / 4 - 72/2 3/ 23 3/ 19 3/ 55 31/ 64 3L 75 8.77 79 7.60 - - .5461/2 - -- Italy 1% - 3%, -1977 Z/ 55 I1/2 §/ 64 / 77 8 3212 / 52 1/2 6.76 43 1/2 8.59 47 1/2 8.02 52 1/2 7.27 do 6.46 67 5.75 - - + 9 - 1.32 -- No-ey, 3% - 1963 94 1/2 3.52 102 1.503 99 1/ 3.14 95 1/2 3.51 96 1/2 3.44 108 1/2 M. 57 1/0 4.54 88 1/2 4.53 88 1/2 4.66 91'I1/2 4.37 - 6 +1.01 + 1 - 0.01 - 3 *0.85 OnuibarnRhodesia 2 1/21 1970 - - - - 92 i/o2 3.00 96 2.79 891/2z 3.24 90 1/2 3.19 78 1/2 4.21 79 1/2 4.19 82 1/2 3.99 89 3.40 - - +1 - 0.02 - -

Lrntil 33/% -195 8? 1/2 4.86 98 1/2 3.64 99 3 61 100 1/2 3.43 98 1/2 3.73 100 1/2 3.42 100 1/2 3.45 101 2.72V 101 2.7631 101 2,76! +30 1/2 -2.10 +13 1/2 - 2.11 +13 1/2 -2.11 Chile 1 1/24-3%- 1993 9/ 5 1/2 4.71W/ 31 4. 55510/34 3:0312/ 39 2.641830 12 9.99 47 6.97 45 7.16 35 9.14 37 1/2 8.65 32 10.32 - - + 4 1/2 - 0.85 -- Ceoba3%, - 197 uJ 1/2 6.61 66 5.53 5~1/ 6.53 51 7.47 44 1/2 8.66 54 1/2 7.0 5 / .6 4 / .7420/ 1/2 9. 1/ ?.97 -13 +2.96 -- -2 +i6 coot. hin as%- 1956 351/l 3 27 1/2 3/ 20 1/2 3/ 17 1/a 3/ z4 3/ 32 1/2 2/ 52 3/ 49 3/ 49 1/2 3/1 59 3/ +13 1/2 - +31 1/2 - +22 1/2 - Equndars5%,- 193213/ 401 1 29 1/23/ 26 3/ 25 3/ 20 3/ 27 1/2 3/ 34 3/ 38 1/2 / 42 1/2 60doS/ 3/ -21/2 - +181I/ 1- +19 1/2 - Ei Sal-eoACJ%. -197613 49 3/ *64 5.64 5O 6.j4 52 7.18 58 .8 63 5.99 67 1/2 5.59 67 1/2 5.66 70 54 771/2 4.83 - - +15 1/22- 152 -- MelIcs 4.65%, - 1963 Jjj/ 17 1/2 3/ '19 7.39 17 8.69 12 1/2 12.57 18 1/2 12.59 23 1/2 9.87 29 7. 50 27 1/2 8.47 29 8.00 28 8.91 - - +15 - 4 10 -- Poroga _3%,- 1970 52 1/2 6.64 ss 6.32 56 1/2 6.16 58 1/2 5.92 62 1/2 5.42 68 1/2 4.71 68 1/2 4.7?3 6? 1/2 4.87 68 1/2 4.76 do 1/2 4.78 +15 -177 1-5 - 1.77 iid -1.866 Pernd%..961 3d 3/ 31 I/ 25 3/ 23 1/2 3/ 23 3/ 28 3/ 60 3/ 66 3/ 65 1/2 3/ 80 1/2 3/ +28 - 43 - *42 1/2 - Urounu,r3 1/2%- 19199 76 4.77 95 1/2 3.72 86 1/2 4.16 85 1/2 4.22 75 1/2 4.84 74 1/2 4.92 do 1/2 6.09 51 7.21 57 i/z 6.44 61 6.09 -25 +2.414 - - -30 *1.32

Asia ChInA 5% 1952 58 3/ 45 3/ 24 3/ 101/2 3j 12 3/ 3/ 12 3/2 10 1/2 3/ 19 1/2 3/ 18 3/ -47 1/2 - +21/2 - -40 Japsix6% 1969 4/ - 4 / - 28 1/2 DJ 41 _/ 40 1/2 4/ 711/ D/ 102 1/2 9.26 89 11.61 97 10.29 - - +74- --

Australia3 1/4%- 1974 100 3.34 112 2. liU/ 103 3.142J.104 3.063/ 99 1/2 3.38 99 j,41 85 1/2 4.26 84 1/2 4.37 88 1/2 4.08 193 1/2 3 72 -15 1/2 .1.03 -- - 6 1/2 +0.30 Canada 3 1/4%- 1963 103 3/8 2.933/ 105 7/8 2663/ 109 7/8 2.61?Ji104 2.773 100 1/2 3.143/2J03 2.213/ 95 3.79 98 1/2 3.42 99 1/2 3.31 101 1/2 2 .8 0OV - 47780 tC49 + 3 1/2 - 037 -17 78 -0.13 Egypt 4% - 1963 23/ 102 1/2 3.00w. 102 1/2 3-003/ 98 1/2 4.32 97 112 4.44 496 1/2 4.56 96 1/2 4.60 95 1/2 4,77 75 7.97 80 7.39 85 6.79 -2? 1/2 .4.97 - - 17 1/2 +3,79 Onion of Sect6 Africa 103 2 04w3/ 10 1/2 2.00kJ 104 1/2 2.75?) 105 2. 523/ 97 1/2 3.76 100 1/2 3.52 92 112 4.241 88 4.74 90 1/2 4.43 94 1/a 4.15 ------3 1/2A - 1967 14/02h.fat

Oo-er,iontbond (Internal) 3 Ivies Ceof. 3 1/2%,1945.-1965 101 3/8 3.383 103 3/8 3.19?1 101 3/8 3.36?/ 101 5/8 3.33!'1108 3/4 aJ4s iod 3/4 2. 703/i 104 7/8 2.8531 1o6 1/2 2.55V/ 107 3/4 2.2 2- 105 3/4 2.382/ +5 1/8 -0.83 + 5 1/8 - .83 + 4 318 -1.00

Auetrin7%-1957 ~~~241/2 3/1 16 3 18 3/ is 3/ 41 3/ 35 3/4 3/ 48 1/2 3/ 56 3/ ioo 3/ 113 1/2 5.62 +31I1/2 - *41 - +89 - Belgian 3 1/2% - 1985 82 4. 48 91 3.96 85 4.31 76 1/4 4.90 90 1/2 4.00 81 10.60 84 1/2 4.39 88 1/2 4.15 99 1/2 3.5' 99 3/4 3.51 + 6 1/2 -0.33 * 7 1/2 - 0,45 +17 3/4 -0.97 Denea.rk 3 1/2% - 1964 85 4.75 91 4.25 88 1/2 4.52 81 5.47 89 4.57 77 1/2 6.02 89 1/2 4.65 92 3/4 4.34 100 1/2 2.483 99 3.63 + 7 3/4 -0.41 +15 1/4 -1.68 +14 -1.12 Gerany %- 1969 4/ it-Q - / - - 7 /3/ 1 / 36 3/ 47 3 83 3/4 3/ 90 5/8 5.96 - - +29- -- Italy3%- 1977 1V74 / 30 3 36 3/ 32 / 59 1/2 3/ 51 3/4 3 857?1 5 687 s7 712 48 - - Netherlands o% - 1962 ------94 4.69 97 4.37 100 5/8 3283 105 14 2.683 103 7/8 3.39 - 6 5/8 -0.82 -- Newsay 3% - 1971 73 1/2 4.82 84 4.03 75 4,78 66 1/4 5. 67 78 4.63 70 1/2 5.40 80 3/8 4.51 87 3/4 3.94 93 1/4 3.52 96 3.32 +1 i/4 -0.88 +21 1/2 - 1.73 *22 1/2 -1.-50

J.i. dAsrnta Chlue 1 1/2% - 3$ - 1993 23/ 20 1/2 5.59101 Z2 s.w9a/ 17 1/2 7. 9830 23 1/1I 4.4319/28 1/4 10.39 36 1/4 8.37 43 31/8 7.16 37 8.40 44 1/4 7.18 42 7.74 - - + 6 3/4 -1.99 -- Other Belgian Congo 4% - 1930 ------102 3.7131 102 1/4 3.62?J 105 1/2 2.983/ 104 3/4 2.959w - - v 1/4 -0.89 -- *ierocnn 5% - 1978 DJ/ 94 3/b 5.35 93 1/4 5.45 86 3/4 5.94 71 3/4 7.314100 1/2 2.95.3/ 95 5.35 96 3/4 5.23 101 3/4 MJ 103 1/2 VW 103 4/ + 7 - +30 - + 81/4 - Onion of south Africa 49-1970 ------96 1/z 4*28 101 1/2 3.833 100 1/4 3.973/J ------

See feetneiss at end of tablle 1 . Table 7: PttBLIPLY-i,LD F0011GHBONDS: PARTII, ISSOPS IN LON0200,ZURICH, LP01STRWIŽ! PARIS, 0T0Cd1H1L1AND BRUS=rt ~nctlrud) Ya.ti-nc end G-oronment 1,nanic~ed Bonds of IMRDMember Countries

Lrcead yils1945-1954

______End nO necIod:-_1_:1952 ______d____v end Borrowing onwetry 1945 7i ~ ~ 1947 1946 1949 191. __ 5 1.952 1951... 1954 195.2 end 1945 inc for Pertod 1954 end 1945 P rice Yield Price Yield Price Yield Price Yield Price Yield Price Yield Price Yield Price Yield Price Yield P rice Yield Price Yield Price Yield Plrice Yield

Gdav ueront bead (Internal) Nethiisrads3%, 1946-1i996 22 2 l l/ 98 3.09 95 3/4 3.18 P667/B 3.60 93 1/8 3.30 9891/4 3.08 99 1/2 3.02 - - +6 1/4 -0.52 --

Aesntri. 7%. 1930-1957 2/ 22 31/ 16 I/ ii 21/ 22 2/ 7 2/ 43 2/ 45 2/ 86 I/ 107 6.45 - - +75 - -- Belgian 14, 1936-1970 ~ / 100 4.00 107 3.55 91 4.71 100 1/ 4.01 105 1/2 2/ 89 i/o 4.91 90 4.90 98 4.17 94 4.53 - - + 1/2 -0.01 -- Denacak %,1938--1968 ~ / 123 1(4 2/ 103 2/ 101 7/8 2/ 163 1/22 2/ 99 3/8 4.05 93 1/2 4.57 97 4.2Z7 102 (1 i? 2/ - - + 3 1/2 -0.30 Paris market Goveranet bond (Internal) P rance 4 i124. i929/49-i969 i/2 9.92 53 53 i/4 10.07 46 3/4 11.12 46 1/2 11.81 34 16.83 90 5.57 87 1/4 5.86 94 5.25 88 5.92 91 5.64 +40 1/2 -4.67 +60 -U..58 +37 1/2 -4.2e Europe A.striasi1/2$-21953 fl/ 107 1/2 2/ 104 3/4 2L/ 104 2/ 96 3/4 7.09 97 1/2 6.3i 100 5.50 ?/105 1/07 7/ 2/ - 7 - -1/2 - +7 1/2 - - Geramaay5% -1969 V/ lu/ - 3/4 iSo/B 2/ 95/8 2/ 141/8 2/ 29 1/2 2 26 2/ 82 3/8 / 62 3/8 / 77 1/4 2/ 82 7.09 +51 1/6 - +52 314 - .70 3/4 Ysgoel.avia 7%, 1931-1971 - 22 3/4 2/ i 3/4 2/ 9 5/8 I/ l1 34 3 /4 45 3/4 2/ 37 2/ 65 2 80 7.25 27/ 73 1/4 lIr.47 2J483 -25/ +57 1/4 - +70 3/8 - t6o i/4 -

Japab4%.i1910-1970 27/ 300 2/ 430 2/ 460 3/ 607 3/ 705 3/ 600 2/ 1260 2/ 3020 2/29 2/ 3390 2/ +2720 - +2720 - +3090 - Steokhsl. market Governmeat bond (Internal) Sweden 3 1/24. 1944-1994 107 1/8 2.61 Z/ i06 2.66 2Ji03 7/8 2.88 2/103 2.95V7 103 2.63529/ 96 5/8 3.56 99 5/8 3.52 97 5/8 3.61 99 5/B 3.56 95 7/8 3.70 -9 i/2 +i.oo - - -11 1/4 +1.09 Enrose Denmark 14 - -1967 - - - - - 95 4.40 100 1/4 3.97 / 931 4.61 g0 4.18 96 i/o 4.33 100 4.00Z/ 98 1/2 4.16 - - +3 1/2 -0.28 - - Norway 3 3/4% - 1L966fl/ 95 1/8 fl/ 96 3/4 3.99 99 3.8-3 97 3.99 100 3.75 Z/ 95 1/2 4.15 99 1/2 3.80 98 1/4 3.92 99 i/2 3.80 98 1/8 3.96 +3 1/8 - +3 1/8 - +3 - Brusels market Govsracwnt bond (Internal) BeIgIom 1945--1986 14. 22/ 88 1/8 4.60 81 5/8 5.09 Ei i/2 9.10 86 5/s 4.77 86 3/8 4.80 84 1/4 4.95 87 718 4.72 90 1/8 4.58 92 i/S 4.47 - - .6 3/8 -0.38 - - Belgian Congo 4%, 1936-1981 100 4.00 2/ 91 15.52 85 1/4 4.90 88 5/8 4.68 87 7/8 4.75 93 1/4 4.40 92 3/8 4.47 93 1/8 4.43 94 4.38 93 3/4 4.40 -6 7/B +0.43 +7 7/8 -V.L,7 -6 1/4 io.iLo I Dntes. change in earieo. h6/ Prior to 1949, 3 1/2 per cent bends due 1959. 1/ Prior in 1946. 2 112 per cent War Bonds due 1953.2/ Poblic Uitlity Credit lnstitnte. guaranteed by national goveranont. Isterest increase on Yield graduated sonIc from 1 pre 1Z/ to next call date. cent in 1947 in 3 per cent In 1953. Prior to 1951, 6 1/2 per cent bonds of Societea Idrnelettrioita Pio.... e 3J/ In due 1960. defmelt. IS/ Prior is 0949. 6 per coot bonds due July 1962. Interest increases on s graduated scale from 1 1/2 per c-ni in 1948 tos 2/Yield to meet Call dete is negative. 3 per cent in 1954. 2/Prier to debt adjotnani plan of 1953. 7 per cent bonl, due 1949. 12/ Morocc Railways, gooratoecL by Trech G-vernent end Cherifien ionic. k/TrAding suspended. LO/ Stonk Exchange closet /Mar-ea.n Railway, guaranteed by national g-oveores. Prior tn 1947. 5 per cent bonds due 1959. f/Trading not permitted. Interost increases on a graduated scale from 1 per cent in 1947 to 3 per cent in 1953. 2/Guaranteed by the Preach Goveraceat. ~/Interest payments suspended. ~/Redeemed. 2/Prier is 1949. 5 per cent bonds dna 1959. aIsrtst inres san graduated scale free 1 1/2 2/Current yield. Payments no cosuroa falling dos 1952-1954 arc being cads at varying rates depending so the fnd.s-avil- per coat in 1948 to 3 per cent In 1954. able fr.. deductions free proceeds of Yogonio eap-cts to Prance. 2/Current yield. BNo yield Is sheen benas,- It is nnt knco chat the ennut of the 1955 interest poyanat ci11 be.. 1/Agrlc-ltnral Mortgage Bank, gworaaleed by eatlcea go-rnm,ent. z/Prices of this bond are sheen as a percent of aprincdrei amout of fin. 500. The contract pr-sides than the bu-d be i/ -uynoquil and quito Rtatiloo. guaranteed by national governmsent, serviced in franc at tie fixed rate of Y 100- Dr. 258 (equicaicci tn fr. 1 = $.0037i43). 2/Prior to 1946. 6 per cent bonds due 1957. M/]ortCageBank of the Kingdom of Noroep,. guaranteed by national govrnment. 1/Prior to 1946, 4 per cent bonde duo~ 1945. z5 S quotation. 2/City of Alemendria. guaranteed by national go-e-mnt. Table 8: PUBLICLY-8KL10R8IG8 BON*DS:PART 11, ISSUES IN LONDON,ZURICH. AK42TRRAN AND PARIS

Natieowl ed Go,ernowt Gonranteed Bond. of Countires Not Nember. of IWO0 Prioe.-and ileld. 194S-154.

Rod of period: Differencebot.een:

Berro.ingneontry 1945 1946 1947 194.8 1949 1950 1951 1952 1953 1954 1952 and 1945 I.nc9for period ______

Price Yield Pries Yield Price Yield Price Yield PrT il rc il rc ield Pries Yield Prices Yie Id Price Yield Price- Yield Price Yied Frice YIeId LopdQe rkat

Buolgaria 7%,1i926-1967 14 / 9 1/2 9/ 6 Aa/ 9 if 7 1/2 91/ 31/2 I6/ 5 1/2 1/ 8 . 8 119 9-6 - +4 1/2 - -3- Oeecheelovaki. 6% - 19609/ 100 8.508 101 1/2 6.06 71. 1/2 10.23 57 1/2 13.51 58 14.04 51 1.41 57 15.83 5? 1/ 16.62 68 13.56 84 1/2 10.01 - - +6 1/2 .0.21 - - Estonia7%, 1927-1967 48 1/2 I/ 25 9 10 9 10 9/ 13 1/2 9/ 14 9/ 12 1/2 9/ 21 16/ 24 1/2 9/ 21 1/2 9/ -27 1/2 - 11 - -27 8enVery7 1/2%(41/2%).1924-1979 16 1/2 _/ 18 1/2 9/ 9 / 10 I/ 11 1/2 9 6 A/ 8 9/ 71/2 9/ 16 1/2 )i 211/2 I/ - 9 - +1 112 - +5 Poland 7% (4 1/2%), 1927-1967 37 9/ 30 9 13 9/ 24 1/2 I/ 24 9 12 it 17 1/2 9 12 1/2 9/ 24 9/ 34 1/2 9/ -24 112 - + 1/2 - - 2 1/2 - Portugel 3% (let Sar.) - 2002 93 3.34 98 3.13 95 1/2 3.24 88 3.57 76 4.2 85 3.73 93 3.35 80 4.01 77 1/2 4.16 82 1/2 3.58 -13 +0.82 +4 -0.20 -10 i/2 *o.54 Rumania 4%,1l922-194&2 1011/2 V 9 9/ 31/2 9/ 5 9/ 4 2 1/ 4 9/ 33 9J 31 I/ 62 9/ +22 1/2 - .31 - +5111/2 - Eues.io5%,1906-1956 1 3/49/j 3/4 I/ 1/2 9/ 1/2 29/ 12 1/ 1/4 LI 7/8 9/ 1 I/ 33/4 9J 33/4 9/ - 3/4 - +3/4 - +2- spoln 4%, 1882 76 1/2 5.23 3/ 86 4.65 3/ 81 4.94 3/ 81 1/2 5.03 3/ 77 1/2 5.23 3/ 72 1/2 5.59 31/64 6.35 3/ 62 1/2 6.50 3/ 67 6.06 3/ 65 1/2 6.20 3/ -14 +1.27 - - -ii +0.97 Latin America Argetiioo4%- 953 99 14.28 103 3.64 100 1/2 4F.06 97 1/2 4.66 96 3/4 5.12 96 6.00 97 6.71 99 i/ 3 - -0 - +3 -- - Asia Ceylon 3%, 1935-1964 100 3.00 108 1/4 2.25 V 100 1/2 2.95 j/1O2 2.78 V1 97 3.26 98 1/2 3.14 91 3.91 90 1/2 4.03 90 1/2 4.12 93 1/2 3.82 - 91/2 +1.03 - - -6 1/2 *0.82 Other Now zealend 3% - 1955 100 3.00 104 1/2 2.15 3/ 101 2.77 3/103 2.41 3/101 1/2 2.40 5/ 101 1/2 2.03 398 3.60 99 1/2 3.20 iDO 3.00 100 3.00 - 1/2 *0.20 +1 112 -0.40 - - 2erichmaket

Europe

Nolge.ris 7 /2%. 1928 Z/ I/ 4 9/ 6 91 7 9/ 5 1/2 9/ 31IIZ 9/ 3 1/2 It 15/8 9/ 53/8 9/ 11 /--. --

zero1 . Roaula, %,19D1 431/49/ 55/8 I/ 2 / 2 1/2 I/ 2 1/2 9/ 3 9/ 6 9 6 / 14 3/8 / 24 1/4 +I.1/4 - +4 - +19 1/2 -

* Denetes chenge Ln eerie..

Lad deftolt. 9/Prier to 1946. 8 per c..t bend. dee April 1, 1951. 3/Correct yi.1d. 3/tess bond. we"e retired In 1953. T ield to next call date. Bo quoatloin. 2/Stock 8805h.. cloeed..