Word: braziller
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Dates: during 1980-1989
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...finances remain shaky. Two weeks ago, the new government of Argentina requested a six-month grace period for interest payments on its $40 billion debt. A team of bankers and troubleshooters from the International Monetary Fund approved a $10 billion emergency loan package in November that once again saved Brazil from defaulting on its $91 billion debt, but the country's economy is deeply depressed and has been plagued all year by strikes, demonstrations, riots and looting. As a major petroleum exporter, Mexico was hurt by the oil price decline. Nonetheless, it is managing to keep up with interest...
...Brazil's President Joào Figueiredo, for trying to turn his country into a true democracy...
Araguari, Brazil...
...break from imports has not materialized. Such Third World steel producers as Brazil, Mexico and South Korea are leaping into the void. In the first nine months of 1983, Brazil's exports increased by 82% over last year's and South Korea's rose by 46%. Mexico's steel sales in the U.S. rose ninefold, from 47,000 tons during the first nine months of last year to 428,000 tons over a comparable time...
...from 22.4% to 19.6% during the first nine months of this year compared with the same period in 1982, American steel companies are again demanding trade protection. Says U.S. Steel Chairman David Roderick: "Importation has reached dangerous levels." Last month U.S. Steel filed complaints with the Commerce Department against Brazil, Mexico and Argentina, asking Washington to slap tariffs on imports from those countries. According to U.S. Steel, government-subsidized industries are selling shipments in the U.S. at below their cost of production. Earlier this year the Commerce Department found that Brazil was selling wire rod at discounts...