Word: braziller
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Dates: during 1980-1989
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Volcker must be careful, though, because his actions will ripple through the world economy. Developing countries such as Mexico and Brazil are still staggering under their enormous foreign debt load. If U.S. interest rates rise enough to stall global economic growth, debtor nations could conceivably go into default and trigger a banking crisis. Says William Mason, who heads an investment advisory service in Los Angeles: "An aborted recovery would be not only a national disaster, but an international disaster as well. Volcker understands that...
...result of those actions, which Fekete admitted were easier to apply in a Communist nation than in a Western debtor country like Brazil, Hungary has laid the foundation for growth and is once again able to borrow from Western banks. Nine weeks ago, Hungary signed an agreement for $200 million in credits with a consortium of financial institutions that included Bank of America, Chemical Bank, Bankers Trust and Manufacturers Hanover. Moreover, the World Bank has granted Hungary $239.4 million in long-term loans...
...London play seems, at first glance, to be as innocent and venerable as Mr. Cinders-or at least as Angela Brazil's novels of the 1930s, in which plucky girls in their blue gym slips got into oodles of "scrummy" jams while defending the honor bright of Grangewood, "the jolliest school in England." As it happens, Denise Deegan's Daisy Pulls It Off is neither a revival nor a musical (though it boasts a catchy school song by one "Beryl Waddle-Browne," an anagram for the show's producer, Andrew Lloyd Webber). It is a sparkling, spanking...
DIED. Ivan Tors, 66, king of the not-so-wild beasts as producer of wholesome outdoor adventure films and TV series such as Flipper, Gentle Ben, Daktari and Clarence, the Cross-Eyed Lion and longtime crusader for conservation of wildlife; of a heart attack; in Mato Grosso state, Brazil, where he was scouting locations for a new television series. A 1939 immigrant from Hungary, Tors eventually broke into TV and movies by producing science fiction films and 156 episodes of Sea Hunt (1957-61). During the '60s, with profits from his productions, he co-founded and ran Africa, U.S.A...
Washington, which had encouraged the development of the original IMF package, has been taking a wait-and-see attitude toward the latest crisis. "Everybody believes that Brazil and the IMF can, and will, come to an agreement," said one Administration official. "So everybody is disposed to wait and give them bargaining time." Indeed, even some unexpected parties are telling Brazil to honor its debts. At a recent Latin American conference, a Cuban delegate chided a Brazilian who said his country should walk away from its loans. "Comrade," said Castro's man, "you shouldn't do that...