Word: credited
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Dates: during 1950-1959
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...infusions of U.S. financial help, economic aid has been one of the most effective instruments of U.S. foreign policy. But at Cairo's Afro-Asian Conference last week (see below), Soviet representatives were gleefully hammering away at a new theme: "The capitalists no longer have a monopoly of credit and machinery. The Socialist countries are really giving...
...capital, foreign and local. In partial compensation, Ceylon has got $20 million from the Soviet bloc, the great bulk of it a grant from Communist China, which is hungry for Ceylon's rubber. Recently a 16-man Soviet delegation came to Colombo to talk over a proposed Soviet credit to finance oil prospecting, expansion of Ceylon's sugar and textile industries and construction of hydroelectric projects. Prospects that the Soviet credit would go through, announced Ceylonese Transport Minister Maithripala Senanayake last week, were "favorable...
INDONESIA. Strong opposition from anti-Communist leaders has so far prevented Indonesia's Parliament from formally accepting the $100 million loan offered by the U.S.S.R. in 1956. But Indonesia has accepted 4,500 Russian jeeps (purchased with a $6,000,000 credit), and near Djokjakarta 40 East German technicians, backed up by a $13 million East German credit, are rebuilding a war-damaged sugar mill. Neither deal has proved very popular. Style-conscious Indonesians find the rough-finish GAZ jeeps unimpressive, and the sugar-mill project is already two years behind schedule. "What those so-called technicians are doing...
...there was positive good news, too, to encourage the market. Department-store sales were still running at a record pace. Higher military spending and more rapid contract-letting promised to spur defense industries, while relaxed credit requirements for FHA home buyers (see Housing) promised to give the housing industry, already on the upgrade, another boost...
...from Federal Housing Administration headquarters in Washington went a new directive to spur housing by drastically revising credit policies for buyers of houses with FHA-insured mortgages. The new policies are expected to double the number of potential purchasers of houses costing $15,000, while trebling the market for $20,000 homes. Said George Goodyear, president of the National Association of Home Builders: "This is good news for every builder. It removes one of the worst obstacles we have had to face...