VOL.XXXVIII

NO.4

24-OCTOBER-1994

Financial and Banking News

Regional Financing

Iran Reschedules Italian Credits

Iran and Italy have signed an agreement to reschedule $1.7bn of short-termoverdue Iranian debt. The agreement, with a term of four years and a graceperiod of 18 months, covers guaranteed and unguaranteed short-term facilities,but not medium and long-term debt estimated at $3bn.