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...first, Castiella finally accepted a five-year extension. The price: "military assistance" to the Spanish armed forces and a pledge from Rusk of $100 million in development aid from the Export-Import Bank...
...holdings have declined 75 per cent since 1958. The Indonesian rupiah, which was devalued by 75 per cent in 1960, dropped in May of this year to four per cent of its pre-1960 figure. Rice, Indonesia's staple food, is expensive and scarce, Sukarno will probably have to import over 75 million dollars worth of rice this year, and he will have to sell enough exports...
Houses & Medicine. By scraping up money from such sources as the Export-Import Bank and the Peace Corps, Moscoso hopes to stretch out his budget for a while. But Alliance economists are busy figuring out scaled-down programs, even though there is a possibility that the Senate might reverse the House action. A $150 million cutback could mean abandoning plans next year to build 10,000 classrooms and low-cost housing for some 175,000 people; it would cancel low-interest loans to 10,000 farmers for plows, seed and fertilizer to escape subsistence-level farming, wipe out a plan...
Selling oil is sometimes almost as hard as finding it, and one reason Aramco can profitably produce such quantities is that its parents have such big markets. The four U.S. companies buy Aramco's entire output but ship only 5% of it to the U.S. because of import quotas. The bulk goes to Europe and Japan, whose needs are rising so rapidly that Aramco expects to double production again in the next decade...
...Coping of Kops. Along the line the reader gets a rare insider's view of the outsiders. There is a prevalence of "pornmerchants" (peddlers of pornographic literature). "Kinks" are those with highly specialized sexual aberrations. The fad for Zen among U.S. beatniks is a London import (1950). Drugs in London are mostly run by what in New York are called "scratch bums," i.e.. bums so crawling with lice that they are immune from police search. Dimly in Kops's background, public events take place: the Jews of the East End defeat Mosley's blackshirts in pitched...