Mexico reached an agreement on a loan package.
The “imaginative” $60-billion debt package could allow Mexico to receive $3.5 billion of a new $6-billion loan by Dec. 1. William R. Rhodes, a Citibank executive who is co-chairman of an advisory committee of banks, said the package contains major elements of the preliminary deal announced Sept. 30 and is being sent to Mexico’s 500 creditor banks worldwide. The agreement refinances $43.7 billion of Mexico’s previously restructured debt that matures in 1986 and 1987. It also calls for $6 billion in new loans over the next two years.
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