VOL. XXXVII
NO. 32
9-MAY-1994
Financial and Banking News
Regional Debt
Syria and Russia Reach Debt Accord
Syria and Russia have signed an agreement under which 80-90% of Syrian debtswill be written off and the remainder paid on its behalf by two Gulf states. TheArabic daily al-Hayat reports that the agreement was reached during a recentvisit to Damascus by the head of Russia's military industry combine. Theagreement also provides for Syria to purchase for cash $500mn of Russianmilitary equipment....
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