Financial and Banking News
LOANS AND ISSUES
Algeria Borrows Again
The International Monetary Fund (IMF) on 31 May approved a package offive-year loans for Algeria worth $565mn. SDR155.7mn is the first tranche of acredit facility, and SDR299mn is a compensating finance facility designed tocover a shortfall in wheat production due to the 1987-88 drought.
In a separate development, GIB's London-based confirming house subsidiary,GIB Export Finance Ltd., has negotiated an...