Word: debtors
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...most desperate borrower is Mexico, which estimates that it may need $9 billion in new loans this year just to meet interest payments on its foreign debts. Only last year, bankers considered Mexico a model debtor because it had managed, through an austerity program that restricted spending at home, nearly to catch up on its foreign bills. But the plan was beginning to break down even before two crushing blows that have pushed the country close to default: last September's Mexico City earthquake, which saddled the country with $4.5 billion in damages, and a 50% drop in petroleum prices...
...little progress has been made toward putting into effect the so- called Baker Initiative, a plan proposed by the Treasury Secretary last October that called for $29 billion in new loans from commercial banks and international lending agencies like the World Bank. Debtor governments have described the plan as well intentioned but too small in scale to do the job. U.S. bankers, for their part, fear that any more dollars they lend will simply go down the same chute as their earlier loans. In any event, the Baker plan's long-term therapy is of scant use to Mexico, which...
After a good deal of heated discussion and some heavy lobbying by Pappi (who will be on his way to debtor's prison if he doesn't manage to get his hands on Mammi's inheritance), Mammi finally agrees to contact a dating service and work on procuring a mate. Various calamities occur, accusations of heterosexaulity are thrown back and forth and the movie goes on its merry...
...already indicated it wants no such thing. The Reagan Administration hopes that Mexico will become the first major debtor to take advantage of the so-called Baker initiative, named after Treasury Secretary James Baker. Under that scheme, certain debtor countries would be allowed access to billions of dollars of increased credit...
...foreign banks that can call in their loans whenever they begin to mistrust the dollar. Worriers also fret that the trade deficit has climbed to a scary $145 billion or so annually. Meaning that it is now the U.S., not Mexico or Brazil, that is the world's biggest debtor nation. And banks keep crumbling (120 of them went under last year). This does not mean that we are approaching 1929, of course, but as Lester Thurow of M.I.T. wrote last week, "Farm bankruptcies, financial speculation, nonperforming loans, large potential defaults . . . the echoes of the Great Depression sound louder...