Word: bushing
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Dates: during 1980-1989
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...Bush Administration has worked out a formula to help ease the burden on some borrowers while maintaining the confidence, and therefore the cooperation, of lenders. Announced by Treasury Secretary Nicholas Brady in March and endorsed by the World Bank and the International Monetary Fund, as well as at the economic summit in Paris last week, the plan calls for "reducing" -- in fact, forgiving -- some principal and interest, thus freeing borrowers' resources for growth. The banks end up holding IOUs that have a lower face value but a higher chance of being repaid. The increased prospect of the debtor nations' economic...
Senator Bill Bradley is a Democrat who has been hammering away at the importance of the Third World debt issue for years. He praises the Bush Administration for realizing that "the answer to the problem of too much debt is not more debt but less." That may sound like mere common sense, but Republicans must overcome a distrust of giveaways and interference in the private sector. "It is an ideological breakthrough," says former Assistant Secretary of State Robert Hormats...
...Bush Administration, following up on Reagan Administration efforts, has been pressuring the Japanese to open up more of their markets to American goods...
...Democratic leader said he and others in his party would "go to the wall" to block a constitutional amendment against flag desecration, which the Republicans and President Bush say is necessary...
...symbols, Bush had used the Iwo Jima memorial to the Marines when he endorsed the constitutional amendment...