NO. 12/13

25-DEC-1989/1 JAN1990

Financial and Banking News

Loans & Issues

BNL Exposure to Iraq Estimated at $2.9bn

Italy's Treasury Minister, Mr. Guido Carli, has given the latest estimates ofthe exposure of Banco Nazionale del Lavoro (BNL) to Iraq as a result of thebanking scandal uncovered at its Atlanta, Georgia branch last year (MEES, 11September 1989). More than 2,500 loan agreements were involved, totalling$2,867mn, of which $1,798mn was in favor of the Central Bank of Iraq...