Financial and Banking News


Iraq Reaches Agreement on Japanese Rescheduling 

The Iraqi Ministry of Planning and three Japanese trading firms - Marubeni Company, Mitsubishi Corporation and Sumitomo Corporation - have agreed to extend a rescheduling agreement reached in 1983 for a further two years. The original agreement was to defer payment of Y84.5bn ($334mn) for two years, and expired on 1 April this year (MEES 6 May). The Iraqis requested a two-year extension while...