NO. 3


Financial and Banking News

Gulf Crisis

Jordan's Arrears on Commercial Debt to Reach $100mn by Year End

Interest arrears on Jordan's commercial bank debt will reach about $100mn bythe end of the year if no rescheduling agreement is signed, bankers say. Jordanand the steering committee of its commercial bank creditors had been close to anagreement on the rescheduling of some $600mn in commercial repayments when Iraqinvaded Kuwait on 2 August. Since then there have...