BELGIAN BANKS SHOULDER THE BURDEN.

Belgium's domestic capital market is brimming with funds, as evidenced by the success of the Kingdom's Bfr190 billion domestic bond issue. The renewed confidence of Belgian investors in their country and currency means that the Kingdom would not have to borrow any new money from the international capital markets in 1985. For the first time in seven years, Belgium registered a current account surplus in 1984, a far cry from the Bfr200 billion deficit of 1981. The most visible obstacle to Belgium's economic rehabilitation is its public debt and foreign debt. Belgium will continue to borrow privately among the domestic banks and will refinance in the currencies that it knows.