Word: exportability
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...legacy of this misadventure is a debt to the West of $23 billion; servicing that debt alone requires at least 80? out of every export dollar Poland earns. Earlier this month, the Soviets helped out with $1.1 billion in hard-currency credits and $200 million in commodities. Poland is still shopping for $8 billion worth of new loans and credits in the U.S., Western Europe and Japan. Chances are that Poland will have to reschedule some of its debt-a humiliating prospect for a country that bills itself as the world's eleventh largest industrial power...
Casey became Under Secretary of State for Economic Affairs in 1973 and then served as president of the Export-Import Bank from 1974 to 1976, when he joined former Secretary of State William Rogers' New York law firm, Rogers & Wells. Casey barely knew Reagan when he was hired last February to straighten out the campaign organization...
National income, the rough equivalent of gross national product, is expected to drop by 3% in 1980, making Poland the first East bloc country to suffer two consecutive declines. Its hard-currency debt to the West has risen to $23 billion; servicing it requires about 80% of its export revenues. Exports are down, largely because coal production is running more than 5% behind projections. Poor weather and absurdly low government price ceilings-a major disincentive to farmers-have contributed to a 12% decline in agricultural output. "Queues existed before, but now we have no food at all," complained a worker...
...importing nations acted as a brake on rising prices. But the war between Iran and Iraq, which has cut total OPEC production by about 3.5 million bbl. per day, has created pressure for higher prices. Repeated bombings and shellings have reduced to rubble the refineries and export facilities in the two countries, and experts believe that it would take up to a year after hostilities ended before normal export levels could be resumed...
...Unless the Iraqis and Iranians can pump and export some oil, the war will end very soon. They need the revenues...