MEXICO DENIES BRITISH BANKS BALKING AT DEBT DEAL
Mexico denied reports that British
banks are resisting signing a 76 billion dlr new loan and
rescheduling package.
    In a statement, the Finance Ministry said the process for
formalizing the package was going as planned.
    Banking sources in London had been quoted earlier as saying
the British banks were balking at signing the package in an
effort to get all participants to contribute equally to a new
7.7 billion dlr loan contained in the deal.
    However, the Finance Ministry statement said all the
British banks had promised their participation in the loan.
    "The contribution of each one of them corresponds exactly to
the request of the Mexican government," the statememt said.
    The ministry said Citibank, which chairs Mexico's bank
advisory committee, has received cables from the British banks
"confirming said commitment."
    The ministry said the books on the package would be closed
by mid-April and the first 3.5 billion dlrs of the new money
should arrive by the end of the month.
    It also said French, Swiss and "some" Canadian banks had
subscribed to the package and that the remaining Canadian banks
would sign the accord in the next few days.
 REUTER
