VOL. XXXII

NO. 5

7-NOVEMBER-1988

Financial and Banking News

INTERNATIONAL BANKING

Venezuela Raises New Money, Brazil Clears Arrears

Two hopeful signs for the future of international lending emerged last week,with the revelation that Venezuela was negotiating to borrow $1bn worth of newmoney and that Brazil had completed a financing package which will allow it toclear all its arrears with commercial bank creditors.

For Venezuela, Bank of America and Salomon Brothers are acting as agents toplace a...