Word: defaulters
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Dates: during 1980-1989
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...potentially explosive than their overseas loans. Foreign borrowers, mostly governments and companies, owe U.S. banks about $350 billion. The most dangerous loans are to such economically ailing Latin American nations as Mexico, Brazil and Argentina, which collectively owe U.S. banks $59 billion and have barely managed to avoid default over the past two years...
That feeling faded fast in August 1982, when Mexico's close call with default dramatized how unsteady the international debt structure had become. Since then, bankers have tightened their purse strings. In the first half of this year, U.S. banks managed to reduce the amount of their foreign loans by $9.4 billion, to $350 billion, by refusing to renew some credits...
...Sanjay was lionized in a death that the Minister of Agriculture called "the biggest tragedy of this century for the people of India." Yet hardly had Sanjay been cremated (at the same site as his grandfather) than attention turned to his brother Rajiv, who now seemed, if only by default, next in line for the prime ministership...
...wasn't all roses for Harvard. The B doubles team of Courtney Crockett and Smith were forced to default their semifinal round on Saturday. Smith had injured her back in her singles match that...
...accord ended a precarious situation that had bankers and politicians in both Washington and Buenos Aires holding their breath whenever interest payments came due. For months Argentine Economy Minister Bernardo Grinspun has been shuttling between New York City, Washington and Buenos Aires. Default was avoided twice this year by partial payments or assistance from Argentina's Latin American neighbors. Meanwhile, the country's economy kept deteriorating. Inflation reached an annual rate of 1,200%, and labor unions were pressing for ever higher wages...