FRANCE REPAYS SOME OF CURRENCY INTERVENTION DEBT
France today repaid 21.95 billion francs
of short-term currency intervention debt to the European
Monetary Cooperation Fund, EMCF, the Finance Ministry said.
    It said the debt was part of a 33.90 billion franc
liability incurred through the activation of EMCF swap
facilities to defend the franc before the January 11 European
Monetary System realignment.
    The realignment, following several weeks of speculative
pressure, produced a three pct revaluation of the West German
mark and the Dutch guilder against the French franc and a two
pct revaluation of the Belgian franc.
 REUTER
