Spanish Banks Write Off 50% of Mexican...
From Times Staff and Wire Service Reports
Spanish Banks Write Off 50% of Mexican Debt: Spanish banks are writing off 50% of their $156 million in loans to Mexico. The writeoff is significantly larger than the 35% planned under the debt-reduction scheme drawn up by U.S. Treasury Secretary Nicholas F. Brady. Mexican Finance Minister Pedro Aspe said he was grateful for Spain’s gesture.
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