VOL. XLV

No 20

20-May-2002

SAUDI ARABIA

Barclays Says Saudi Reneges On $900Mn Loan To Finance Military Bases

Barclays Capital and three other investment banks haveaccused the Saudi Government of reneging since mid-April on a $900mn loan tofinance the operation of military bases, according to a report in the London Sunday Times of12May. A letterleaked to the newspaper written by a senior Barclays executive contains athinly disguised warning that Saudi Arabias credit standing could be damaged if an...