World Bank to Provide Mexico With $2...

World Bank to Provide Mexico With $2 Billion: World Bank President Barber B. Conable Jr., said in a speech delivered in Mexico City on Latin American economic growth and reforms that the international agency will provide $2 billion to support the reduction of Mexico’s public foreign debt with commercial banks. The Mexican government and a 15-member Bank Advisory Committee, which represents about 500 commercial banks and has been negotiating a reduction of the Latin American nation’s commercial debt, are expected to sign a landmark debt reduction accord Feb. 4 in Mexico City. The debt reduction agreement, assembled under the so-called Brady Plan drawn up by U.S. Treasury Secretary Nicholas F. Brady, is expected to cut Mexico’s annual debt payments by nearly $4 billion.