Mexican plan for Central America

Press, 24 March 1988, Page 11

Mexican plan for Central America

NZPA-Reuter | Caracas Mexico has announced a !lt-point | financial-aid programme | for Central America,' including an innovative I 1 | debt | relief scheme, aimed ;at helping the | war-torn I countries rebuild their economies. The Finance! Minister, Gustavo Petricioli, told the! twenty-ninth annual meeting of; the: InterAmerican Development Bank (IADB) that the international community should (support' the Jnitia- ■ tive. I l || : I ' 'll :I: I U |( ; The plan includes refinancing SUSIM million (sl4*l : million) | in I debt owed to Mexico by Costa Rica, with an, innovative mechanism to share I the present ill discount (on Third World debt.l ' “The idea is that 'the two countries take advantage of the discounts on debt in secondary markets to their mutual advantage,” I Mexico’s Public Credit Director, Angel | Gurria, told Reuters] ■ - I This (will be the first time such a; mechanism has been used between Latin ] American countries tp settle intra-re-gional debts.! ] n ;