Word: exports
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Dates: during 1960-1969
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...began when Premier Gaston Eyskens brought up the bill for leaving the Congo. Suddenly, Belgians discovered that the Congo would cost not only humiliation but money-in lost export revenue, tourist income, shipping profits and earnings on Congo raw materials. To make up the loss of empire and to streamline Belgium's overburdened social welfare system, Eyskens proposed an austerity program that would raise taxes by $120 million, cut government spending by $200 million on such things as unemployment benefits and old-age pensions...
...dairy country to build the biggest dry-milk plant it has ever constructed outside the U.S. The new plant, scheduled for completion next May, will cost $2,240,000, employ 50, and produce about 9,000,000 lbs. of dry whole-milk powder a year, chiefly for export to South America...
...Principally agricultural, Ireland has provided so few jobs that each year as many as 40,000 Irishmen immigrate, mainly to the U.S. and Canada, to find work. Two years ago, the government put together an appealing package. To the foreign industrialist, it grants a ten-year tax exemption on export profits and offers to pay the full cost of training the workers (average wage: $29 for a 44-hr, week), plus 50% of the cost of the machinery and up to one-half of the cost of building a plant. In addition, it will pay the full cost of building...
...financial and political-the U.S. has invested $150 million worth of grant aid in support of the government since the 1952 uprising. Through the years the U.S. persistently refrained from handing out cash to the nationalized, immensely inefficient tin mines, even though they provide Bolivia with 67% of its export income. Last week the U.S. was forced to reverse its stand...
...keep the inflation-ridden economy from collapsing, Kubitschek must juggle his debts faster and faster. Caught short of dollars two months ago and faced with a six-month, $87.7 million repayment installment to the Export-Import Bank and the International Monetary Fund, Brazil arranged a six-month payments moratorium-but the next Brazilian ad ministration will have to resume payments. To meet the internal demand for dollars, the Bank of Brazil recently started selling (at a discount) certificates for dollars deliverable within 90 days. The first batch of $80 million must be redeemed in dollars beginning...