Memorial presented to the Council for the Protection of Foreign Bondholders of the United States for and on behalf of the Dominican Republic: in the matter of the suspension of payments on amortization or sinking fund requirements of dominican bonds

Abstract

As counsel for the Dominican Republic and aeting for and on its behalf, the undersigned presenta the following facts appertaining to the foreign debt situation of the Dominican Republic, which facts reflect the imperative necessities which have in the past compelled and which still do compel the suspensión of the requirements for amortization or sinking fund payments on the Dominican externa! debt The total extemal debt of the Dominican Republic as of January 1, 1934, amounted to $16,320,500. Interest payments have been paid promptly and in full to date. The bonds concerned herein were issued in 1922 and 1926 and provided that payment of amortization or sinking fund requirements were not to begin until 1930.