POLAND: BANK AGREEMENT

Created: 11/3/1982

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POLAND: Bank Agreement

Polish representatives and Vestern bankers meeting in Vienna today are torivate debt rescheduling agreement aonaolidas-ing OS percent of the principal payments due this year, totaling aboutillion, into an eight-year%

The banks are not insisting Warsaw first pay the interest due this year, as they did before signing the agreement covering maturities The newcalls for the interest to be paid in threein November and December this year and in March next year.

a substantial not hard currency, outflow from Poland, which will slow its recovery. Warsaw is likely to prolong the repayments as long as possible, and probably cannot meet the December and March payments,

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