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$2.6 billion Polish debt rescheduled by banks

Poland reached agreement with its Western creditor banks on rescheduling payment of $2.6 billion it owes them this year. The two sides said in a statement that they had also agreed on granting Poland new trade credits.

Banking sources in Frankfurt said the deal was almost the same as a proposal by banks made public last month. Of the $1.5 billion in principal Poland owes this year, it will repay 95 percent over a 10-year period, with payments starting after a grace period of five years.

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In Warsaw, Rep. Clarence Long (D) of Maryland and six other US congressmen said Western sanctions against Poland should not be lifted until the Communist authorities introduce a human rights program that satisfies Poland's people. The group met with Gen. Wojciech Jaruzelski, the Communist Party leader, as well as several senior ministers.

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