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Topic: Business
Number of pages / Number of words: 9 / 2288
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Since OPEC had no intention of risking their money in loans to unstable non-OPEC LDCs, argues James Gipson, an investment banker: But they are quite content to let U.S. or UK banks take the risk for them (Taylor). Banks were playing a major part in facilitating the adjustment of imbalance of payment in the 1970s’ by providing long term loans on very small

interest rate without imposing restrictive covenants though, as a practical matter they do not have the inclination nor the leverage to do so...


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Since OPEC had no intention of risking their money in loans to unstable non-OPEC LDCs, argues James Gipson, an investment banker: But they are quite content to let U.S. or UK banks take the risk for them (Taylor). Banks were playing a major part in facilitating the adjustment of imbalance of payment in the 1970s’ by providing long term loans on very small

interest rate without imposing restrictive covenants though, as a practical matter they do not have the inclination nor the leverage to do so...


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