VOL. XXXII

NO. 8

28-NOVEMBER-1988

Financial and Banking News

AID FLOWS

US Extends $40mn Agriculture Credit to Morocco

The US agreed last month to extend a $40mn agriculture credit to Morocco forthe import of 115,000 tons of wheat and 38,000 tons of edible oil. The loan willbe repaid over 26 years, including a five-year grace period, with an annualinterest rate of 2% during the first five years and 3% during the followingyears.