Word: debt
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Dates: during 1950-1959
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...because Germany spent relatively little for rearmament (see FOREIGN NEWS). In an effort to liberalize foreign trade, Belgium lifted virtually all exchange restrictions on the franc and established a free gold market. But Belgium is having trouble staying within its income, has run up a $6.2 billion national debt. Gradually, however, Belgium is getting the problem in hand, expects its deficit this year to be $240 million v. $380 million last year...
...step up capital investments and increase production. Not only has Holland dropped import controls on more than 92% of its foreign trade, it has built up a dollar reserve of $1.3 billion. Despite the heavy burden of war indemnities and flood damage, Holland in six years chopped its national debt 25% to $5.3 billion. Said one Dutch official proudly: "Our house is in order...
...exchange shortage, which ranks with inflation as the nation's most serious economic malady. Even with imports curbed by government controls, Brazil runs up exchange deficits. The two main exports, coffee and cotton, are subject to price tremors. About half of Brazil's export earnings go for debt service, ocean freight, oil and wheat; what is left for machinery, raw materials and all other imports amounts to some $700 million a year-about $12 per Brazilian. The shortage of foreign exchange stunts economic growth by holding down Brazil's capacity to service foreign loans...
...political way, looking ahead to the 1960 election. Kubitschek is still under suspicion, in Brazil and abroad, of having made some kind of election deal with the Reds; anything he does or says that relates to Communism will be examined for signs that he is paying off a debt. And Brazil's Communists are stirring; they are under orders from Moscow to wage an intensive comeback campaign this year...
Harris declared that the administration was not trying to balance the budget but "to give an appearance of the balanced budget." He cited as evidence the rise of $12 billion in the national debt since...