Japan Plans Big Loan to Mexico: Japan...
Japan Plans Big Loan to Mexico: Japan will pledge a $2-billion loan to Mexico in line with a multinational debt-relief program set forth by U.S. Treasury Secretary Nicolas F. Brady, the Asahi Shimbun newspaper reported. The loan will be issued to back up a $4-billion credit to be extended jointly by the International Monetary Fund and the World Bank, the newspaper said. Mexico, with external debt estimated at $100 billion, will be the first indebted nation to receive aid under the Brady plan. Japan also will offer a substantial loan to the Philippines, whose external debt is estimated at about $28 billion, the newspaper said.
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