RESTRICTED FROM ROME
037761
MDHIAN 927
9.
-
AFTER A STATEMENT FROM THE KUWAITI FINANCE MINISTER, ALKHALIFA AL-SABAH, THANKING PARTICIPANTS FOR THEIR SUPPORT, MULFORD IDENTIFIED THREE MAIN PROBLEM AREAS:
-
DISBURSEMENTS RESOURCES NEEDED TO BE DELIVERED
TO THE
RIGHT PLACES MUCH SOONER. OUT-PERFORMED OTHERS IN THIS AREA.
THE
GULF STATES HAD
THE 'MISMATCH' IN ALLOCATION OF RESOURCES
-
EGYPT WAS
OVER-FUNDED,
TURKEY UNDER-FUNDED AND JORDAN SERIOUSLY UNDER-FUNDED DESPITE HER IMPROVEMENT IN IMPLEMENTING SANCTIONS.
1991
THE PROBLEMS WOULD NOT DISAPPEAR AT THE END OF
THIS YEAR. THOUGHT SHOULD BE GIVEN NOW TO DISBURSEMENTS IN THE NEXT FINANCIAL YEAR.
10. GCC:
THE TOUR DE TABLE PRODUCED THE FOLLOWING POINTS:
EL KUWARZ ENDORSED MULFORD'S COMMENTS ABOUT THE IMPORTANCE OF QUICK DISBURSEMENT. HE ADDED THAT SYRIA HAD AN IMPORTANT PLACE IN THE ALLIANCE. HE HOPED PARTICIPANTS WOULD ''REMOVE ANY IMPEDIMENTS' ΤΟ TREATING SYRIA AS A
FRONTLINE STATE.
JAPAN: UTSUMI REAFFIRMED JAPAN'S COMMITMENTS TO A GLOBAL TOTAL OF 2 BILLION DOLLARS. SOME 600 MILLION WOULD BE AVAILABLE IN UNTIED COMMODITY LOANS. BUT AN ADDITIONAL 150 MILLION DOLLARS FOR A CO-FINANCING OPERATION WITH THE WORLD BANK IN JORDAN WAS DELAYED BY WORLD BANK PROCEDURES. THE DOMESTIC PROCEDURES FOR PROCESSING THE COMMODITY LOAN WOULD BE COMPLETED IN DECEMBER, SO DISBURSEMENT COULD BEGIN IN JANUARY AS FOR THE REST OF THE 2 BILLION DOLLARS, THIS WAS POLITICALLY COMMITTED.
ITS DISBURSEMENT WOULD BE CONSIDERED IN THE LIGHT OF 1991 REQUIREMENTS, TAKING ACCOUNT OF THE PARTICULAR NEEDS OF JORDAN.
11.
WHEN PRESSED BY MULFORD, UTSUMI CONFIRMED THAT THE JAPANESE CO-FINANCING OFFER OF 150 MILLION DOLLARS WAS ADDITIONAL TO THE COMMODITY LOAN, ON WHICH JORDAN HAD BEEN ALLOCATED 100 MILLION OF THE 600. SO THE TOTAL FOR JORDAN
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