Saudi loan
Saudi Arabia has signed an agreement to lend the International Monetary Fund the equivalent of $10.6 billion so that it can lend more money to poor countries, many of them in troubkle because of the high price of oil. “In view of the magnitude of the amounts made available, this agreement constitutes a substantial contribution to the recycling process,” the Fund said. By the “recycling process” is meant getting the huge sums of money collected by the-oil producers back into the flow of world trade.—Washington.
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Bibliographic details
Press, 13 May 1981, Page 9
Word Count
87Saudi loan Press, 13 May 1981, Page 9
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