European Stars And Stripes (Newspaper) - October 12, 1988, Darmstadt, Hesse                                Wednesday october 12, 198b the stars and stripes Page 3 ., Philippines near pact on bases payment to top $550 million a . I. I. Iia a i in  Ivonn Mai Tinc Ullh i 1 Manila Philippines a  And philippine officials have nearly reached an agreement under which Washington would provide compensation Worth More than s5so million a year to use its six bases Here official sources said tuesday. The sources who spoke on condition of anonymity told reporters the two sides had virtually finished reviewing an agreement governing the  Bases. An Accord on compensation terms through 1991 is expected within a week negotiators agreed on a Basic annual compensation package of$550 million to j580 million in economic support Mili tary assistance and commodities mostly wheat said the sources both of whom were close to the negotiations. Philippine negotiators in Washington were bargaining for an additional $100 million loan to buy  Treasury Bonds the sources said. The Bonds would enable the Philippines to pay offs200 Mil lion of its $28 billion debt. Three Manila newspaper said such a loan would be made bul they did not say for How much. However presidential spokesman Todoro Benigno said later tuesday the size of the compensation package had not been entirely finalized. He said the s500 million figure was a hard Cash component and officials were still Dis cussing creative portions meaning the debt Relief part. Economic planning Secretary Solita Monsod said the proposed loan figure was too insignificant to negotiate at All. It will be Able to buy Back at most $200 million which is not Worth talking about she Lold reporters. We should be talking about a j700 million buy Back  on monday a philippine source said the two sides had finished reviewing a agreement governing  Bases and that an agreement on their status through 1991 is possible within a week. It s Over. An agreement is possible within a few Days maybe within a week s Lime. There was Compromise on Bot sides said the source who is involved in the talks. He said both panels were working on the wording of the agreement. In april  And philippine panels began talks on the status of Clark a Subic Bay naval base and four smaller installations. But the talks have stalled Over compensation and other issues. Philippine foreign Secretary Raul  has been meeting with  Officials in new York and Washington since last month. He is expected to re turn to Manila this week. The United slates maintains the bases under a 1947 agreement which expires in 1991. The current talks Are to determine compensation base Security and other issues through the final years of the Accord. After that any Extension must be approved by two thirds of the 23-Rncmbcr philippine Senate where opposition tothe bases is Strong. President Corazon Aquino refuses to say whether she will support an Extension. Tic United Stales now pays about1 Jim in Nisku Tel tilt jiu1t Jujj ulsuui$180 million a year for the bases the philippine panel reportedly demanded up to si.2 billion annually for the final four Tornado combat tighter jets from Britain s Royal air Force scream Over the circular Quay in Sydney Australia As part of the Celebration marking Australia s Bicentennial members of tornadoes hit Sydney