A bill enabling the Israel Government to float a 50,000,000-pound loan to finance immigrant housing was presented to Parliament today by Finance Minister Levi Eshkol.
A unique feature of the bill is the choice of interest rates it gives purchasers. He may choose to receive six percent interest on which he pays an income tax; four and one-half percent which is tax-free, and no interest, but a chance in a national lottery.
At the same time the Israel Treasury today increased the exchange rate for deutsche-marks which Israeli residents receive from German restitution programs. The new rate is equivalent to 2.16 pounds to the dollar, as compared to the old rate of 1. 8. However, the 20 percent premium will not be paid in cash but in negotiable government bonds pegged to the dollar. Last week, the Treasury announced premiums for industrial exporters which would bring the basic rate of exchange for most exporters to 2. 65 pounds to the dollar.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
