Word: droppingly
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
When he assumed the presidency in 1982, Miguel de la Madrid Hurtado inherited a country tottering on the edge of economic collapse. An 11% drop in the price of oil coupled with spiraling interest rates had left Mexico $85 billion in debt and forced international bankers to cobble together an emergency rescue plan. The Harvard-trained De la Madrid instituted a painful austerity program that devalued the peso, sharply curtailed imports and cut government spending, including costly subsidies on basic goods and services. In an effort to stimulate future growth, he sold off some state-owned enterprises and invited foreign...
...comparisons with the 1982 crisis. The impact of the drop in oil prices is much more serious now than it was in 1981-82, but at present Mexico has monetary reserves it did not have at the end of 1982. We have moved forward in the restructuring of our foreign debt, and we do not have companies on the verge of bankruptcy, as was the case in 1982. I would also say that there is not as much tension among the people as there was at the end of 1982. By that, I do not mean that people...
Volcker's Federal Reserve Board has been able to allow low interest rates to work their magic because inflation remains only a distant threat. In fact, the Labor Department announced last week that wholesale prices actually deflated in February, falling by 1.6% from January, the biggest one-month drop since record keeping began in 1947. The Consumer Price Index, which peaked at a raging 13.3% in 1979, increased only 3.8% last year. Moreover, the expected increase in U.S. economic activity, which ordinarily might send wages and prices sharply higher, is unlikely to do so this time, because factories have plenty...
...drop in interest rates has helped ease the U.S. budget crunch because it now costs the Government less to borrow money. New 30-year Treasury bonds are currently paying 7.95%, compared with 11.86% for those issued a year ago. Data Resources calculates that the decline in borrowing rates will help reduce the cost of interest payments on the nearly $2 trillion national debt by about $5 billion, to $143 billion this fiscal year. In a report issued earlier this month, the Congressional Budget Office projected a drop in the federal deficit from a record $212 billion in fiscal...
...controlling stockholder has got nothing but trouble. As a strike by 6,000 flight attendants grounded nearly half of TWA's flights last week, the carrier's losses rose higher and higher. TWA had a $123 million deficit in the final quarter of 1985 and is expected to drop almost $200 million more in the first three months of this year. Concludes Robert Joedicke, an airline industry expert for the Shearson/Lehman Bros. investment firm: "Icahn has bitten off more than he can chew." The chairman, though, is maintaining a brave front. Says he: "I was looking for a challenge...