Word: bank
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Dates: during 1960-1969
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During the first six years of this decade, for example, the Corporation voted degrees to the managing director of the International Monetary Fund, the head of the International Bank for Reconstruction and Development, the head of the Federal Reserve System, the head of the Agency for International Development, the secretary-general of NATO, and three presidents of Latin American nations. During the same period, no degrees were granted to Negroes. (In 1967, Harvard did grant a degree to the Negro President of Moorhouse College, and in 1968 honored Whitney Young...
That threat now seems averted for at least several years. Britain can draw upon its new funds from the Bank for International Settlements for three years, will have until 1978 to repay...
Thus, Britain had little choice but to accept a lesser role in international finance. "The alternative might have been chaos," said Sir Leslie O'Brien, the governor of the Bank of England. "Our performance since devaluation has been disappointing, but I believe we will get it right. We have got to get it right...
That role, which the pound shares with the U.S. dollar, has long strained Britain's resources. Accordingly, the plan lifts some of the burden of maintaining a reserve currency from beleaguered Britain, shifting the cost to the multination Bank for International Settlements in Basel, as backed by the central banks of 13 industrial countries.* The London Times said approvingly: "Britain has placed the pound in the hands of the public receiver...
Away from Railroads. Last week an international syndicate of investment houses, including Lehman Brothers and Paris' Pays-Bas bank, underwrote a $30 million issue of Utah convertible Eurobonds offered to non-American buyers. The company will borrow another $50 million or so from banks in the U.S. and abroad. All the money will be used in the development of a promising new coal field in Australia, which represents Utah's largest single undertaking...