TALLINN (BNS) - Local governments in Estonia have nearly exhausted their borrowing limit for the current year, while being able to pay back only half of what had originally been planned, a senior bank executive said.Local governments borrowed 405 million kroons ($26.4 million) during the first six months of 1999, which makes up nearly 95 percent of the total planned for the whole year, Gerd Muller, director of the business banking division at Hansapank told the Eesti Paehvelt daily.He said applications from local governments for deferment of loan repayment deadlines, a break in repayments o...
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