VOL. XXXII

NO. 14

9-JANUARY-1989

Financial and Banking News

AID FLOWS

AMF Lends $254mn to Iraq, Algeria and Syria

The Arab Monetary Fund agreed last month to extend $254mn to three Arabcountries to offset the deficit in their balance of payments, as follows: $113mnto Algeria at an annual interest rate of 3.75-4.75% and repayable in threeyears; $29mn to Syria at an annual interest rate ranging between 5.2-6.4% andrepayable in 10 years; and $112mn to Iraq.