Word: bisness
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...government, though, is financially strapped. It could not make a $400 million loan repayment due late last week to the Bank for International Settlements, which serves as a kind of central bank for the central banks of major industrial countries. BIS had twice postponed the deadline for this payment, but announced that it would give Brazil no more time. The BIS pronouncement was obviously designed to pressure Brazil into coming to terms with the IMF for additional loans...
...speech, IMF officials praised his new austerity program. At week's end Brazil and the IMF negotiators were putting the final touches on a preliminary agreement clearing the way for additional loans that would save the country from default. Backing down from its earlier demand, the BIS announced that it could wait for its $400 million until Brazil had new IMF money. Confident that the immediate financial crisis was past, Figueiredo jetted away to keep his doctor's appointment...
...Reagan Administration moved in with immediate aid: $1 billion in oil purchase prepayments, another $1 billion in agricultural credits, and half of a $1.85 billion short-term loan put up by the Bank for International Settlements (Bis) in Basel, Switzerland, the so-called central banks' central bank and the keeper of international lending statistics. This was closely followed by an IMF announcement that it had approved a Mexican adjustment plan and would extend a new credit of $3.9 billion. But the commercial banks were not happy over the IMF's conditions that they increase their lending...
...BIS figures show that in the third quarter of last year, new loans to OPEC countries rose to $2.4 billion, almost double the amount of the previous quarter. That borrowing was still not enough, says the bank, to keep up with OPEC's internal spending demands as it pursued vast new construction projects and other modernization programs. So in the third quarter of 1981 OPEC countries withdrew a total of $700 million from their Western bank accounts. In the same quarter of 1980, they had deposited $10.9 billion in those accounts...
Gaddafi's most predictable trait is bis unpredictability. "It's almost impossible to evaluate the man in rational terms," says a British diplomat. "With the coming of dawn, he may take off on a completely new tack." He is a man of mercury, quick to anger. Once when his second in command, Abdul Salam Jalloud, made a mistake, Gaddafi had Jalloud's hair shaved off. He often carries a side arm; more than once, he has lost patience and pulled out his gun, aiming it at the person who offended...