Financial and Banking News


Iraq Seeks Re-rescheduling of Japanese Debt 

On 1 April the Iraqi Ministry of Economic Planning defaulted on a payment of ¥20.9bn ($83mn) which was due to Marubeni Company (¥13bn), Mitsubishi Corporation (¥7bn) and Sumitomo Corporation (¥1.9bn) under the terms of its 1983 rescheduling agreement which deferred payment of ¥84.5bn ($334mn) for two years. MEES learns that the following day Marubeni and Mitsubishi were asked...