: :inin Kyiv (EET)

UK Says Will Pay Off Part of World War One-era Debt Next Year


Britain will pay back part of the outstanding debt used to fund World War One next year, when it redeems government bonds first issued almost 90 years ago by then-finance minister Winston Churchill.
The finance ministry said on Friday that it would redeem 218 million pounds ($348 million) of 4.0 percent consols – a rare type of bond with no maturity date – on Feb. 1 next year, to be funded by issuing new debt.
This is the first time this type of gilt has been redeemed since the late 1940s – in part because until recently it required lower interest payments …read more

Source: Newsweek

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