TREASURY'S MULFORD SEES BRAZIL LENDING PROGRESS
Assistant Treasury Secretary David
Mulford said rapid progress was being made in talks with
commercial banks for loans to Argentina, the Philippines and
Brazil.
    "This should result in substantial new lending for the
major debtors in 1987," he said in prepared testimony for the
Subcommittee on International Development Institutions of the
U.S. House of Representatives.
    Until recently, commercial banks were slow to conclude new
financing packages pending completion of a Mexican package,
Mulford said.
    "We are concerned about the backlog of other financial
packages and would like to see these move ahead soon," he said,
"There is some evidence that this is already happening.
    Chile signed an agreement with banks last week, and there
was also an agreement with Venezuela on rescheduling principal
payments on previously renegotiated debt.
    "We look for rapid progress in commercial bank discussions
with Argentina, the Philippines, and ultimately Brazil," he
said.
 Reuter
