NO. 17


Financial and Banking News

Gulf War

Industrialized Nations Give Commitment on Egyptian Debt Write Off

The G7 group of industrialized nations has agreed to write off one third ofthe debt owed to it by Egypt, although the measure will not be implemented untilEgypt has signed its long-awaited standby credit agreement with the IMF. Financeministers of the seven nations, who met in New York on 20- 21 January, alsooffered to write off one third of Poland's debts. The G7...