Middle East Economic Survey

VOL. LI

No 34

25-Aug-2008

REGIONAL/LIBYA/SYRIA

Libya And Syria Settle 1982 Debt

Libya has decided to write off accrued interest of some $350mn on its deposit of $200mn placed with the Central Bank of Syria (CBS) since 1982, following talks in Tripoli held by Syrian Minister of Finance Muhammad Husain and Libyan officials. A debt settlement agreement was signed in Tripoli on 21 August. Mr Husain said that the original deposit of $200mn will now be invested as Libyan...