VOL. XXXIX

No. 27

1-April-1996

ALGERIA

Algeria And US Sign $1Bn Rescheduling Agreement

Algeria and the US on 27 March signed an agreement to reschedule $1bn of Algerian debt, the Central Bank of Algeria announced last week.

Meanwhile under an agreement signed in Madrid on 28 March, Banesto Bank of Spain has agreed to lend the Algerian state-owned oil and gas company Sonatrach $156mn to finance the purchase by the latter of Spanish goods and services. The loan, which is guaranteed by...