P.M. BRIEFING : U.S. May Reduce Poland’s Debt
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WASHINGTON — Treasury Undersecretary David C. Mulford suggested today that Poland is a candidate for reduction of the $10 billion it owes to banks under the plan proposed by Treasury Secretary Nicholas F. Brady.
Mulford told a congressional panel that he and Brady were in Poland last weekend and that the question of reducing Poland’s debt is under discussion.
He noted that Mexico has just signed an agreement with creditor banks, the first negotiated under the Brady strategy.
Mulford also said Poland has just made another agreement to delay payments on the $27 billion it owes to creditor governments, including the United States.
Poland has a total debt of more than $40 billion.
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