Financial and Banking News
Egypt Reduces Wheat Debt to Australia
Egypt has repaid to the Australian Wheat Board about half of the $130mn debtfalling due between July and December 1988 for past supplies of Australianwheat. The cash payment was a condition set by the Board, which is owed about$600mn by Egypt, before agreeing to negotiate on wheat shipments for 1989. Theremaining part of the $130mn is to be repaid by Egypt by the end of the year.