$4.88 loan to Mexico
NZPA-Reuter Mexico City
About 500 banks had promised to lend Mexico SUS4.B billion in the world's biggest financial rescue the Government said yesterday. The Finance Minister. Mr Jesus Silva Herzog, said that the loan “has no precedent in
world financial history" and predicted the deal would be ready by the end of the month. Mexico's once-vibrant economy has been wrecked by the slump in world oil prices and the country’s total foreign debt now stands at SUSB3 billion. It has made virtually no capital repav-
ments since August. Mr Herzog also said that efforts to reschedule SUS2O billion of foreign debt were almost complete. / Mexico has asked its 1400 creditors to postpone SUS2O billion of foreign debt falling due before 1985 with principal payments resuming in 1987.
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Press, 10 February 1983, Page 6
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131$4.88 loan to Mexico Press, 10 February 1983, Page 6
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