	jamaica agrees draft bank debt rescheduling jamaica agreed in principle with its bank advisory committee on a rescheduling of mln dlrs of foreign commercial bank debt falling due between and the jamaican information service said repayments on the debt will be stretched out over years with years grace at percentage points over the london interbank offered rate libor the margin on previously restructured debt also will be cut to point from the package should save jamaica about mln dlrs a year prime minister edward seaga who led the jamaican delegation called the terms very favourable to his country the agreement in principle with the bank advisory committee led by the bank of nova scotia bno to comes five days after jamaica successfully concluded a mln dlr rescheduling accord with the paris club of creditor nations that pact in turn followed the international monetary fund imf s approval on march of a mln special drawing rights standby arrangement and a mln sdr drawing under the compensatory financing facility of jamaica s foreign debt of billion dlrs only pct is owed to commercial banks and seaga yesterday reaffirmed the government s policy of not seeking new bank loans reuter m 
