Word: bailouts
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There is plenty more in store for Indy, Willie and Indy's pre-teen sidekick Short Round (Ke Huy Quan) before the end of reel one. A hairbreadth escape through the bustling back streets of Shanghai! A scarifying ride in a pilotless plane! A midair bailout in a raft that bounces them onto a steep mountain slope for a wild toboggan ride off a cliff and into a raging river whose rapids carry them to ... But you get the idea. An army of professionals-439 listed in the credits-has set the narrative motor purring in high gear...
Resentment against Jorge Blanco, 57, began to grow in January 1983, when he announced the austerity program. The strict measures were imposed on the country by the International Monetary Fund (IMF) as the price for a three-year bailout loan of $430 million that a faltering economy desperately needed. The Dominican Republic is plagued by 30% unemployment, rising inflation that may hit 60% this year and a $2.5 billion foreign debt. Politicians on all sides felt that the measures placed an unfair burden on the lower classes, whose earning power has decreased by 50% in the past three months...
Last week some unexpected details of Argentina's eleventh-hour rescue became known. It was revealed that officials of the U.S. Federal Reserve assured private lenders that the $100 million they contributed to the bailout would be repaid. The Federal Reserve told banks that Argentina had more than that amount on deposit with it and that those funds would be used to pay off the loan. Given that indirect guarantee, the private banks charged an interest rate that was only one-eighth of a percentage point more than what they charge one another on loans...
...inflation rate. As soon as Argentina and the IMF sign a preliminary agreement, which may take a month, the U.S. Treasury will give Argentina a short-term $300 million loan; it will be used to repay the four other Latin American countries that took part in the bailout. The IMF'S executive board will then examine the Argentine economic plan. If it approves the program, new loans will be authorized, and the U.S. Treasury will get its money back...
...people made out better than most in the industry's turnaround. Chrysler, with its U.S. Government-guaranteed loans paid back ahead of time and sales zooming, will resume paying dividends on its common stock in April, the first such payout in five years. As part of the Washington bailout, Chrysler workers were given stock in return for wage concessions. Since the average worker now owns 159 shares, the 150-a-share dividend will mean about $24 each for 68,000 Chrysler employees. Chairman Lee A. Iacocca, with as many as 565,000 shares, will be a particularly big winner...