East-West Debt news update on the debt situation in the world.

International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer attractive financial solutions for solving non-performing trade and bank debts in high-risk countries

East West Debt, solving defaulted trade and bank debt

East-West Debt oct. 2002 news update

We are pleased to present another issue of East-West Debt news update on the debt situation in the world. International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer our readers attractive financial solutions for solving non-performing trade and bank debts ...

... thanks to the expertise of our international network of experts. East-West Debt is an international financial company specialised in the recovery of overdue debt. To be successful to our clients, we give the highest priority to attractive creativity, quality and integrity for solving overdue debts in high risk countries.

East-West Debt offers financial solutions to multi-nationals, banks, governments, and insurance companies in solving overdue debts in high-risk countries in:

Africa,

the Middle East,

Eastern Europe,

Latin America,

South-East Asia.

For solving overdue debts, East-West Debt is using the following solutions:

debt equity swaps

debt for counter-trade

debt for debt swaps

debt collection

international litigation

ALGERIA Algeria is trying to convince foreign governments and investors that security in the country is improving in order to get foreign aid and investment streams flowing, hoping they can help an ailing economy.
ARGENTINA Although the IMF has already lent Argentina $14 billion, the country can expect further aid of about $5 billion from the IMF, the World Bank and the Inter-American Development Bank (IADB) in support of a tough program.
BRAZIL The World Bank approved three loans, totaling $1 billion, to support Brazil's education, energy and financial sectors
EGYPT The World Bank has announced its readiness to offer Egypt a loan of approximately $1 billion. This loan, constructed in participation with other parties and to be granted during a period of three years
INDONESIA The IMF highly appreciated the implementation of Indonesia's economic reform program. Wise monetary policy, which is supported by other reforms, has stabilised the exchange rate and allowed for a significant reduction in inflation together with declines in interest rates.
IRAN The International Monetary Fund reviewed its cooperation with Iran. The IMF praised Iran's development plan
IRAQ The United Nations Security Council passed a resolution which introduces improvements in its humanitarian oil-for-food program with Iraq which started in 1996. The $10 billion program allows Baghdad to sell its oil to buy food, medicine and other humanitarian goods for the civilian population.
JORDAN Jordan has concluded an agreement with the Paris Club member countries to reschedule a sum of $2 billion.
NIGERIA Nigeria is excluded from HIPC program although its per capita income levels and ratio of debt to gross national product are comparable with those of the 42 countries included in the HIPC initiative.
PAKISTAN The World Bank approved four projects totaling $240 million to support Pakistan's program of reforms, which is in line with the country's Poverty Reduction Strategy and the World Bank's new Country Assistance Strategy (CAS).
TURKEY The International Monetary Fund completed the second review of Turkey's economic performance under the three-year stand-by credit and decided to enable Turkey to draw $1.15 billion immediately.
UKRAINE The economic situation in Ukraine has continued to improve in 2001. Real GDP growth is estimated to have increased from almost 6% in 2000 to 9% in 2001
URUGUAY The IMF completed the first review, and approved a further $494 million on its current Stand-By Credit to Uruguay.
VIETNAM Vietnam will get approximately $1.1 billion in aid from the IMF, the World Bank and the Asian Development Bank by the end of 2002.

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.