Thu, 28 Oct 1999: Williams deal: the economy’s savior or ultimate destroyer?…



With the Lithuanian economy in a rut and the financial situation looking almost desperate, the Williams deal is still very much on track for being signed on Oct. 29. But will it send Lithuania's financial problems spinning out of control? The government and Williams have apparently been sparring over how much each side should contribute to pulling Mazeikiu Nafta out of a huge financial hole. According to Williams information, Mazeikiu Nafta has over 1.2 billion litas in state-funded or state-guaranteed debt. Of that, 257 million litas must be repaid by the end of this year while another 528 million is due the end of 2000. In order to halt Mazeikiu Nafta's impending fall into bankruptcy, the Williams deal has been laid out in a way that Lith... Read the rest of this entry »

Comments are closed.