VOL. XXXII

NO. 38

26-JUNE-1989

Financial and Banking News

LOANS AND ISSUES

Iran Warms Up to Foreign Borrowing

The issue of whether the country should borrow from overseas sources, whichhas been sharply debated in Iran since the Gulf War cease-fire last summer, nowseems to have been more or less settled in favor of borrowing. This year'sbudget specifically allows for $2.5bn worth of foreign loans (MEES, 27 March),subject to strict limits on the debt servicing charges. The matter was settledby the...