Word: debt
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Dates: during 1950-1959
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...victory, Frondizi owed a potentially embarrassing debt to ousted Dictator Juan Perón. In constituent assembly elections last July, Perón ordered his last-ditch followers to vote blank, and they piled up 2,000,000 void ballots. Two weeks ago Perón, now an exile in the Dominican Republic, changed tactics and passed the word to vote for Frondizi. The only apparent reason was that Frondizi had been outspoken in criticism of the provisional government that booted Peron out in 1955. But Perón's move clearly changed the course of the campaign...
...make some of the mistakes we had made long ago in missilery-it was like coming around the same track again-and we did feel frustrated at times, we are awfully lucky to have carried the day. It makes us feel that we paid back part of a debt of gratitude we owed this country...
...Debt Pyramid. At first, Menderes' development program had nothing but happy results. Acreage under cultivation doubled. In 1953, when good weather gave it the biggest wheat crop in history -8,200,000 tons v. 3,800,000 in 1950-Turkey became for the first time a substantial exporter of wheat. The once arid Anatolian plateau was dotted with green fields and bustling communities, and the cotton-producing areas of southern Turkey experienced a new prosperity. Turkey's sugar production, which nearly trebled between 1950 and 1956, was barely able to keep pace with domestic demand. Reason: the Turkish...
...have been trying to do those things against the background of having to repay debt abroad during the next eight years of a total equal to the whole of our existing reserves ... of seeking to conduct a great international banking business, of sustaining our position as one of the world's major overseas investors. Over twelve years we have slithered from one crisis to another. It has meant a pound sterling which has sunk from 20 shillings to twelve. It is a picture of a nation in full retreat from its responsibilities. That is not the path to greatness...
...DEBT STRETCH-OUT will be attempted again by Treasury. It plans to offer long-term bonds as part of next month's $10.8 billion refinancing, believes that money has eased enough so that interest rate will be less than the 4% it paid on last September's twelve-year issue...