VOL. XXXI
NO. 40
11-JULY-1988
IRAQ
West Germany Reopens Credit Guarantees to Iraq; Debts to Be Paid in Crude Oil
Following a visit by Mr. Tariq 'Aziz, the Iraqi Foreign Minister, to Bonn latelast month, West Germany agreed on 30 June that its state-owned export creditagency, Hermes, would provide DM100mn ($165mn) of state guarantees to financethe export of West German goods to Iraq in return for crude oil payments fordebts incurred so far, totaling around DM130mn. Hermes has also agreed to lend...
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