POLAND: DEBT RESCHEDULING

Created: 4/24/1981

OCR scan of the original document, errors are possible

NID 81

CIACO

1

POUNDi Debt Rescheduling

Poland will reeueat reaoheduling ofo JS percent of ite official debteeting witheetern creditor countriea inonday and Tueeday, and the creditor* are likely to agree.

At the previous mooting early this month, the Polesentative rescheduling package that would defer onlyercent of government and government-backed debt falling dueay throughecember. est German official aaid yesterday, however, that Bonn will stronglypercent figure and that ho expects the French will agree. Bonn and Paris had previously been the leading advocatesower reschedulingwhile tho US has all along urged at leastercent. mm)

Officers ofestern banks representing several hundred banks inountries made only limited progress in their efforts last week to reschedule Poland'sdebt at meetings in London. They reportedly reached agreement to postpone principal repayments due from late March through the end ofmost Western banks had already agreed to this, jmm)

The meeting did not work out an arrangement for rescheduling debt due afterune. Over the longer term, the bankers apparently remain strongly committed to requiring Poland to meet all of ita interest payments.