VOL. XL

No. 31

4-August-1997

SYRIA

Syria Reschedules Arrears With World Bank As Budget Keeps Pace With Inflation

According to press reports from Damascus, the Syrian Government finally signed anagreement on 29 July rescheduling $415mn in arrears with the World Bank. Bankers say thatSyria has long preferred to deal with its creditors on a bilateral basis rather thansitting round a negotiating table with all its official creditors and thrashing out aParis Club deal. This negotiation, they say,...