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Laos: Foreign exchange operation fund



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DEPARTMENT OF FOREIGN AFFAIRS

NEWS RELEASE NO.

I n c l in

P arlin fo 2 7 th A p r i l , 1971

LAOS : FOREIGN EXCHANGE OPERATION FUND

The A c tin g M i n i s t e r f o r F o r e ig n A f f a i r s , t h e H o n o u ra b le

R. W. S w a r tz , M .P ., a n n o u n c ed to d a y t h a t A u s t r a l i a h a s p a i d $ 3 2 0 ,0 0 0

i n t o t h e F o r e ig n E x ch an g e O p e r a tio n Fund f o r L a o s . T h i s r e p r e s e n t s

t h e f i r s t h a l f y e a r l y paym ent o f t h e $ 6 4 3 ,0 0 0 t h a t A u s t r a l i a h a s

p le d g e d a s h e r c o n t r i b u t i o n f o r 1971ยท

The F u n d , e s t a b l i s h e d i n 1963 , p r o v id e s L a o s w i t h f o r e i g n

e x c h a n g e t o a s s i s t i n m a i n t a i n i n g an o r d e r l y f o r e i g n e x c h a n g e m a r k e t,

t o f in a n c e an a d e q u a te l e v e l o f im p o r ts and t o s u p p o r t t h e L a o t ia n

G o v e rn m e n t' s b u d g e t . '

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a i d t o L a o s w i l l e x c e e d one m i l l i o n d o l l a r s o f w h ich a b o u t h a l f a

m i l l i o n d o l l a r s w i l l b e s p e n t on p r o j e c t s b e in g f in a n c e d u n d e r th e

Colombo P l a n .