Saudis Get $4.5-Billion Credit Line: Saudi Arabia...
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From Times Staff and Wire Reports
Saudis Get $4.5-Billion Credit Line: Saudi Arabia has signed a three-year, $4.5-billion credit line with 20 international banks, its first foreign loan in at least 20 years, bankers said. The kingdom needs money to cover costs of the Gulf War and to help bridge its current account deficit, the bankers said. Saudi Arabia faces a budget deficit for this year estimated at $15 billion.
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