GULF WATCH: Day 49 : A Daily Briefing Paper On Developments In The Crisis

Diplomatic Front:

Iraq said it is freezing the assets of other nations and foreign-owned businesses to retaliate against countries participating in the sanctions against it.

A plane carrying about 300 Americans left Iraq for London. Military Front:

The House included a $978-million funding package for Operation Desert Shield in its 1991 defense appropriation bill. It contains funds for chemical war protective gear and cargo ships and planes to support the Persian Gulf buildup.

Argentina became the first Latin nation to join the gulf buildup, saying it will send two ships and 450 military personnel. Economic Front:

The gulf crisis creates “substantial risks” for the U.S. economy, making it difficult to stimulate activity by lowering interest rates, Federal Reserve Chairman Alan Greenspan said.

Higher oil prices will help slow world economic growth to about 2% this year, down from 3% in 1989, according to the IMF. Crisis Indicators:

U.S. citizens airlifted from Iraq and Kuwait: 1,700

Americans remaining in Kuwait: 940

Americans remaining in Iraq: 120

U.S. citizens held hostage by Iraq: 82

Gasoline, regular unleaded: $1.292 per gal., down $0.002

Dow Jones average: 2,557.43 down 13.86

High temperature in Dhahran: 100