BANK OF GREECE TO CURB
FOREIGN EXCHANGE LOANS
ATHENS, Greece - The Bank of Greece has said it plans to announce measures to curb foreign-exchange borrowing by businesses that helped push Greece's balance of payments into a $500 million deficit in the first quarter of 1995.
The measures, expected by early next week, could include decisions to raise rates on foreign-currency loans to businesses and curb commercial banks' consumer-loan facilities, officials said.
On Tuesday, Bank of Greece Governor Loukas Papadimos warned that foreign- exchange borrowing and growing competition in the consumer loans business could be getting out of hand.
Central bank officials said the consumer loans boom was directly responsible for a large rise in expensive imports, such as automobiles, in recent months.
WORLD BANK DENIES
INDONESIA AID CHARGES
JAKARTA, Indonesia - The World Bank office has denied claims that its assistance to Indonesia has helped create business monopolies.
The bank's Indonesia director, Dennis de Tray, said that "our longstanding advice and assistance to Indonesia has been to promote competitiveness and openness in the Indonesian economy," according to Antara news agency Tuesday.
Mr. De Tray was replying to charges made last week by Christiant Wibisono, director of the Center for Indonesian Business Data, that the bank's distribution of aid excludes non-government organizations and has helped create monopolies.
"It is not legally possible for the World Bank to channel its assistance directly to non-governmental organizations, or other public organizations," Mr. De Tray said.
TRADE VOLUME UP 19.7 PERCENT
IN CHINA'S GUANGDONG
GUANGZHOU, China - Customs statistics Monday show the trade value of southern Guangdong province adjacent to Hong Kong reached $49 billion in the first six months of this year, an increase of 19.7 percent year on year. Exports were worth $27.1 billion, up 30.7 percent, and imports $21.9 billion, up 8.3 percent.
Imports were led by steel products, electronic parts, chemicals, paper and paperboard, synthetic fibers, spare parts of clocks and watches, leather and copper products.
The province mainly exports garments, shoes, toys, tourist articles, plastics, watches, aquatic products, furniture and electric fans to Hong Kong, the United States, Japan, Germany, Taiwan, Britain and Singapore.
CHINA COTTON IMPORTS
SOARED IN 1ST HALF OF '95
BEIJING - Customs figures Monday show China imported 500,000 metric tons of cotton in the first half of this year, up 382 percent from the 1994 period. Exports slumped 75.6 percent, to 19,171 tons.
BANK OF GREECE TO CURB