VOL. XLIV

No 51

17-December-2001

REGIONAL BANKING

ESCWA External Debt Trends Downwards In 2000

External debt as a percentage ofGDP declined in 2000 in all member countries of the Economic and Social Councilfor Western Asia (ESCWA) region with the exception of Lebanon, according to theorganizations latest review. In its recent Survey on Economic and SocialDevelopments, 2000-2001, the Council notes that in GCC countries increasedoil revenues in 2000-01 were generally used to reduce debt burdens,...