NO. 7


Financial and Banking News

Gulf Crisis

Palestinian Losses from Gulf Crisis Clarified

Palestinian sources have clarified reports quoting PLO chairman Yasser 'Arafat which said that the PLO had $4bn in Kuwaiti banks at the time of theIraqi invasion (MEES, 12 November). The sources say that Mr. 'Arafat's figure of$4bn refers to money in Kuwaiti banks belonging to individual Palestiniansrather than the PLO.

The 24 countries of the Gulf Crisis Coordinating Group, set up...