VOL. XXXVII

NO. 19

7-FEBRUARY-1994

Financial and Banking News

Budgets & Revenues

Saudis Agree Rescheduling Terms With US Defense Suppliers...

Saudi Arabia and its five major US arms suppliers have signed an agreement torestructure $9.2bn in payments due over the next two years. The US DefenseDepartment was also a signatory to the agreement, which was concluded on 29January. Under the terms of the rescheduling, Saudi Arabia will pay the fivemanufacturers $1.5bn directly in cash in each of the...