Word: braziller
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Dates: during 1980-1989
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...wall. Sample: Who played for the New York Rangers, the Brooklyn Dodgers and the New York Knicks in a single season? (Organist Gladys Gooding.) Who was Bram Stoker's most infamous character? (Dracula.) What's the only country crossed by both the equator and Tropic of Capricorn? (Brazil.) What's a newly hatched swan called? (A cygnet.) Who portrayed Tonto on TV? (Jay Silverheels...
Congress's new skepticism is a reflection of a growing belief by many Americans that U.S. contributions to the fund will be used to protect American banks from losses on loans to such overextended nations as Brazil and Mexico. The Reagan Administration is now caught between pleasing a skeptical Congress and avoiding the multinational financial catastrophe that could result from a breakdown of the fund. The main losers in all this, the IMF delegates generally agreed, will be the world's developing nations...
Although some observers thought that the Caracas delegates might try to form a "debtors cartel" that would renounce foreign financial obligations, the representatives stopped short of that move. "The idea of a debtor cartel was definitely put aside at this conference," said Mailson Nóbrega, secretary-general of Brazil's Finance Ministry, as the meeting came to a close at week...
...BRAZIL. Latin America's biggest debtor is also its most troubled (see box). Brazil owes some $90 billion and is in its third year of a deep recession. The country is promising to undertake tough austerity measures so that it can begin paying off its debt, but those steps are intensifying already serious social unrest. Last week food riots broke out in Rio de Janeiro. Says one U.S. Treasury official: "Brazil is the key to the entire Latin American debt problem...
When Latin American leaders assembled in Caracas last week to discuss their debt problems, a conspicuous absentee was the Finance Minister for the biggest borrower of all. But Brazil's Ernane Galvêas, who sent his deputy, had daunting problems at home. Brazil's new austerity measures, imposed in order to win needed loans from the International Monetary Fund and private banks, have aggravated the impact of recession and bad weather on the country's homeless and unemployed...