AGREEMENT FOR THE FUNDING OF THE ROUMANIAN
WAR DEBT TO THE BRITISH GOVERNMENT.
The Undersigned, duly authorised by their respective Govern-
ments have agreed as follows :—
1. In full and final settlement of the net War Debt due by the
Government of the Kingdom of Roumania (hereinafter called
Roumania) to the Government of His Britannic Majesty (herein-
after called Great Britain), in respect of which Debt Great
Britain holds Roumanian Treasury Bills to the face value of
€18,448,200, Roumania agrees to pay and Great Britain to
accept the following annuities :—
in
1926
1927
1928
1929
1930-34
1935-44
1945-66
1967-R7
50,000
100,000
150,000
200,000
250,000
275,000
500,000
750. 000
These Annuities will be payable in equal half-yearly instal-
ments on 15th May and 15th November of each year, with the
exception of the Annuity for 1926, which will be payable in
full on 15th November, 1926.
Great Britain agrees to accept the reduced annuities provided
for above during the years 1926 to 1944 inclusive in view of the
liabilities of Roumania during those years under the Relief
Bonds for £2.200.000 held by Great Britain.
2. The payments provided for by this Agreement will be made
in sterling to the Cash Account of His Majesty's Paymaster.
(Feneral at the Bank of England.
3. In the event of any of the payments provided for by this
Agreement not being made by the due date, interest at the rate
of 6 % per annum shall be payable for the period between
he due date and the date of paviment.
4. Roumania will issue and deliver to His Britannic Majesty's
Treasury on or before 15th November, 1925, Bonds substan.
tially in the form set out in the Annex to this Agreement in
respect of each of the half-yearly payments provided for by this
Agreement. These Bonds shall be exempt from all Roumanian
taxation, present or future, so long as they are in the beneficial
ownership of Great Britain or of a person, firm, association or
corporation neither domiciled nor ordinarily resident in