Representatives of hotel owners and banks in Jordan have recently reached an agreement, according to which the banks agreed to award local hotels with a one-year extension to payback their debts to the banks, reported Al-Hayat . This agreement was reached after the intervention of several local governmental monetary associations including the Jordanian Central Bank. The Jordanian tourism sector in general and hotels in particular were exposed to an unprecedented economic shock since the September 11 attacks on the United States. Local hotel debt grew as high as 180 million Jordanian Dinars ($254 million). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
