VOL. XXXIII
NO. 19
12-FEBRUARY-1990
Financial and Banking News
Loans & Issues
Iraq, Italy Agree on BNL Loans
The Iraqi Government has reached agreement with Italy's Banca Nazionale delLavoro (BNL) over how to treat $2.87bn worth of credits issued by BNL's branchin Atlanta, USA. Under the terms of the deal reached last month, BNL will notprevent the release of $605mn worth of signed but undisbursed letters ofcredit and has agreed to legitimize $2.16bn worth of credits which wereguaranteed by the...
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