AUSTRALIAN WOOL CORPORATION OVERSEAS BORROWING, 16 OCTOBER 1977
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PRIME MINISTER
FOR PRESS 16 OCTOBER 1977
AUSTRALIAN WOOL CORPORATION OVERSEAS BORROWING
The Government has decided that the Australian Wool Corporation
should be allowed to borrow overseas against the value of its
overseas stocks to finance the Corporation's inventory of wool
held outside Australia.
This decision has been taken because of the considerable
advantage which will result for the Corporation and for wool
growers. The Prime Minister said that the Premiers would clearly require
to be consulted about the new borrowing authority. He said that
he would be putting the matter to the Premiers at the Premiers'
Conference scheduled for 21 October.
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