NO. 8


Financial and Banking News

Budgets & Revenues

New BIS Figures Show Interbank Position of Kuwait and Iraq before Invasion

Figures recently published by the Bank for International Settlements (BIS)give the most reliable publicly available figures on the financial position ofKuwait and Iraq vis-a-vis western commercial banks in the weeks preceding theIraqi invasion. BIS' November report on International Banking and FinancialDevelopments shows that reporting banks...