Word: curtail
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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...
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...
...shores since the 1980 Mariel boatlift. Although the care of undocumented aliens from the Caribbean is a federal responsibility, the burden of supporting them has fallen mostly on Florida, and Governor Robert Graham has had enough of it. He is suing the Federal Government for failure to curtail immigration into South Florida. Says he: "The status quo is intolerable...