NO. 19


Financial and Banking News

Budgets & Revenues

Algerian Debt Refinancing Is Casualty of Gulf Crisis, but Bankers SayRescheduling Is Unlikely

The outbreak of war in the Gulf appears to have scuppered Algeria's plan torefinance its commercial debt and reduce the heavy burden of repayments fallingdue within the next three years. The idea was to raise a $2bn medium-term loan,which would be used to buy out shorter-term maturities (MEES, 12 November 1990).Bankers...