VOL. XLI

No. 30

27-July-1998

KUWAIT

Kuwait Offers Pakistan $250Mn

Pakistani Finance Minister, Mr. Sartaj Aziz, has announced that Kuwait is to offer$250mn in financial support to Pakistan to assist with the country's balance of paymentsproblems and help avoid a debt crisis. The money is being lent for a two-year period andcarries an annual interest rate of 4%. Pakistan's foreign reserves have fallen to below$600mn, representing less than three weeks worth of import payments. No statement has...