$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.
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.