VOL. XXXV

NO. 45

10-AUGUST-1992

Libya

Turkey and Libya Initial Oil for Debt Deal

Turkish Eximbank officials and Libya's Umma Bank initialed an agreement lastweek concerning an oil for debt deal that would provide for the partialsettlement of a $600mn debt owed to Turkish contractors, according to theFinancial Times of 5 August. Previous Libyan payments, made through priceconcessions on oil deliveries, stopped in September 1991. This was due to thefact that Ankara, having to comply with an IMF...