January 1, 1999 |
By
Keith Martin in Washington, DC
MOST ECONOMIC SANCTIONS AGAINST INDIA AND PAKISTAN have been waived until October 21. The sanctions were imposed after both countries tested nuclear devices. President Clinton waived the sanctions temporarily by executive order. The waiver allows the US Export-Import Bank and Overseas Private Investment Corporation to resume activities in both countries, and it allows banks to makes loans to projects in which there is Indian or Pakistani government participation.
