| Level | Series |
| Reference Number (click to see whole series/group) | 1A49 |
| Extent | 13 files |
| Title | USA: ANGLO-US FINANCIAL AGREEMENT NEGOTIATIONS |
| Date | 21 Jul 1945 - 30 Mar 1946 |
| Admin History | By the end of the Second World War Britain had built-up huge external debts and the new Labour Government sent a mission to Washington to try and arrange a grant or favourable loan. The United Kingdom mission was headed by Lord Keynes, who was a Director of the Bank. Starting in September, the negotiations proved to be difficult and were not completed until December 1945. The outcome was a loan of $3,750 million plus a further credit of $650 million against final settlement of lend-lease obligations. There were also conditions attached, including that Britain would adopt convertibility by 1947: this placed great pressure on sterling and led to a devaluation of the pound in September 1949. |
| Description | Mainly comprises Nabob and Baboon telegrams (Nabob was the code-name for telegrams from the delegation, Baboon was used for telegrams from London to the delegation); also correspondence and papers. |
| Related Material | G1/18 |
| Original Reference | CBP376_02 |
| Keyword | United States of America (USA), United States (US), United Kingdom (UK) |