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Poland may reschedule its loans due in 1986.

June 10, 1986

The proposal by its creditor banks called for Poland to reschedule 95% of about $800 million in loans, but the Poles were expected to ask for an interest rate reduction before final approval of the agreement. The rescheduling will include a four-year grace period on principal payments, but Poland still will have to pay banks about $400 million of interest due this year. In addition, Britain announced that it would extend about $30 million in short-term credit to Poland, the first such new credit that it has given to Poland since martial law was imposed in late 1981.

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