VOL. XXX

NO. 24

23-MARCH-1987

Financial and Banking News

BUDGETS AND REVENUES

Egypt Close to Deal on Soviet Debt

The Egyptian Minister of Economy, Mr. Yusri Mustafa, last week visited Moscowto hold what was expected to be the final round of discussions on Egypt'smilitary debt to the Soviet Union. Egypt has failed to pay interest - equivalentto 2% per annum - on its estimated $3bn worth of military debt to the SovietUnion since 1977. The main elements of the agreement which has now been reached,...