Financial and Banking News
Algeria to Receive $609mn in US Farm Credits
The US will lend $608mn, guaranteed by its Commodity Credit Corporation (CCC),to Algeria in 1988. The credits will be earmarked for the purchase of wheat andother agricultural commodities and must be allocated by the end of September1988. The US government initially offered $301mn worth of loans, but this amountwas increased at the request of the Algerians.