VOL. XLI

No. 18

4-May-1998

SAUDI ARABIA

Saudi Arabia Will Continue To Pay Arrears Despite Fall In Oil Prices

The Saudi Government should continue its payment of arrears to local farmers andcontractors despite the fall in oil prices, analysts in the Kingdom told Agence FrancePresse (AFP). A first installment of SR2.2bn ($587mn) was paid to contractors inApril, bankers told AFP, and a final tranche of SR3.5bn ($933mn) is due to farmersin August. The Saudi Government issued two sets of bonds to...