Poland Cannot Meet Interest Payments: Poland said...
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From Times Staff and Wire Reports
Poland Cannot Meet Interest Payments: Poland said it cannot meet first-quarter interest payments on its commercial bank debt because of balance of payments difficulties, British bankers said. Poland, with foreign debts of about $40 billion, should have paid about $180 million on its medium-term rescheduled debt in the first quarter of this year. But it has missed a $70-million payment that was due Monday, the bankers said. Poland owes Western commercial banks $9 billion, of which about $1 billion is in short-term trade credits.
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