Word: importance
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Dates: during 1940-1949
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...Ambassador William D. Pawley had reason to be pleased by these dramatics. Since his arrival in Lima last July, Businessman Pawley has been busy trying to be constructive. He helped arrange for settlement of Government debts so that much-needed U.S. Export-Import Bank credits might be obtained. He induced U.S. oil companies to spend money developing Peruvian oil reserves, and aided the Santa Valley project to exploit zinc and nearby Cañón del Pato water power to create a new electrolytic zinc industry. With the formation of a sturdy new Cabinet last week, prospects for Pawley...
...Most important of all, the republics set to work to make what they could no longer import. Argentines shipped fewer hides, turned them into finished leather goods themselves. Chileans proudly looked for the label Fabricación Chilena on their tires, even though the rubber and cotton material still had to be shipped in. In Brazil's São Paulo alone, 300 new firms grew up during one year, to make such former import standbys as cotton and wool yarns, rayon, rails, leather goods cellophane, ceramic and chemical products...
Congress was increasingly critical of foreign loans made without advance assurances; the politico-economic situation in Greece was rapidly getting worse. Caught as usual between criticism and circumstances, the State Department last week announced that the Export-Import Bank had lent Greece $25 million. At the same time, the State Department told the Greek Government to pull up its socks; the loan would do no good if Greece did not take vigorous steps to revive industry, cut expenses and control inflation...
...first war-crimes trial (TIME, Dec. 31), needed only half an hour to reach a verdict. Up rose tight-lipped Major General Harry W. Foster to read out the sentence in a gruff, soldierly voice. In more subdued tones, an American interpreter translated it for the prisoner. As the import of the words became clear, Kurt Meyer turned beet-red: for responsibility in the killing of 18 Canadian prisoners of war, death by a firing squad...
...that we cannot ask aid abroad without first putting our house in order ourselves." After a searching session, the Assembly understood. It approved: 1) a devaluation of the franc (119 to the dollar, instead of 50 to the dollar); 2) a $550,000,000 loan from the U.S. Export-Import Bank; 3) French participation in the Bretton Woods agreement...