VOL. XXXIV

NO. 19

11-FEBRUARY-1991

Financial and Banking News

Budgets & Revenues

Baker Proposes Huge Multilateral Commitment to Middle East Development

The proposal by US Secretary of State James Baker, to establish amultilateral institution for post-war reconstruction and development in theMiddle East is nothing if not ironic. Iraq's memorandum to the Arab Leagueshortly before its invasion of Kuwait on 2 August, called for an Arab plan,similar to the US Marshall Plan, to fund to reconstruction...