NO. 16



Debts to West Germany Paid in Crude Oil

West Germany has agreed to renew its export insurance cover to Iraq providedthat the latter pays in crude oil overdue interest and debts. An arrangement tothis effect was agreed upon between the two countries last November, and Bonnagreed to provide by the end of January the names of the German customers readyto buy the Iraqi crude.

In accordance with the agreement, the German state agency Hermes will releaseDM100 ($60mn)...