NO. 41


Financial and Banking News

Budgets & Revenues

New Japanese Commitment Takes Total Gulf War Donations to $9bn

Japan is to contribute 70bn (about $500mn at present exchange rates)towards military costs arising from the Gulf war. The US has criticized Japanfor providing only $8.5bn of an expected $9bn contribution to the costs of theGulf war and post war reconstruction. The difference resulted from a change inthe dollar/yen exchange rate between the time the pledge...