Word: curtail
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Dates: during 1980-1989
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...current crisis began when the International Monetary Fund suspended payments in August on a three-year $330 million loan. It was the third agreement broken in 17 months. According to the IMF, Costa Rica had once again failed to keep its promise to curtail excessive spending. Laments Economist Edward Lizano: "I think we have the world championship in broken IMF agreements." The situation is now so bad that nobody will lend Costa Rica even the short-term money it needs for the rest of the year. In July and August, the government sent representatives to the U.S., Canada, West Germany...
...full-fledged price war was under way in U.S. skies last week, defying most rules of economics and common sense. It happened at a time when the walkout of nearly 12,000 air controllers was forcing airlines to curtail their schedules and pack passengers sardine-style into the planes that are still flying. Unlike many recent air-fare battles, the combatants were not the small upstart carriers or the thriving regional airlines. This time the big trunk lines that dominate air-traffic lanes were fighting it out. What is more, the price war was touched off by Pan American World...
Wall Street was not willing to wait. Tumbling stock and bond prices reflected the skepticism of investors that the Administration can dramatically curtail budget deficits and thus ease the pressure producing cripplingly high interest rates. On the very day that Reagan returned to the White House the Dow Jones industrial average fell 17.22 points to 867.01, its lowest level in almost 15 months...
...cuts in federal aid will force states to do at least one of two politically unpopular things: curtail services or raise taxes. In a closed-door session, according to Arkansas' Frank White, seven out of 20 Governors confessed they had either just passed tax increases or intend to do so soon. Some states will suffer more than others. North Dakota, with its oil and coal revenues, will do just fine without the federal dollars. Boasts Governor Allen Olson: "We want to prove we can live without them." But in the Northeast and industrial Midwest, the new federalism is "cruel...
...longer term prospects may not be so bleak. Air carriers may have to operate at reduced schedules for perhaps a full year, while the Federal Aviation Administration trains new air-traffic controllers to replace those fired by the President last week. This would force the companies to curtail flights of their less efficient planes, including DC-9s and Boeing 727s, and ultimately to accelerate the selling off of the aging planes, which has actually already been under way for months. With fewer planes in the air, more seats would be filled, and discount fares would diminish. Overall industry profits would...