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...loan and that there was no way to avoid devaluation. Last week in his televised charla (chat) with the country, he explained that he had reopened talks with the lending agencies and proposed his own "Colombian plan." Beaming, he announced: "Naturally, they accepted it." The plan included further import controls, tight restrictions on capital movement, and something called "full convertibility"-which almost certainly meant a sleight-of-hand devaluation within six months...
...dropping all barriers to the import and export of francs and securities, and by ending restrictions against converting the franc into other currencies, De Gaulle's government aimed at raising France's relatively low standing as an international financial center. Frenchmen can now hold accounts in foreign banks, pay for hotel bills, purchases and apartments abroad with a French check. Though foreign investment and borrowing in France remain subject to some restrictions, foreigners can now freely acquire up to 20% of the capital of a French firm, invest in French stocks, buy French property...
...Conference, when it met, was a lifeless affair. The Council submitted a long report of unflinching orthodoxy, that missed entirely the import of the Howard speech. It reflected throughout what Rainwater has called "the services strategy," as against an income strategy in dealing with problems of poverty. Thus, the section on public welfare proposed, "There should be a sharp reduction of the number of clients served by each case worker." This is a common enough American approach to social problems, but there is perhaps a special significance in this particular area: a quite disproportionate number of middle-class Negroes...
...been arranged from nations in both the East and West blocs, and Suharto hopes to achieve a balanced national budget of $813 million this year. Most significantly, the Indonesian Congress last month passed a liberal investment law. It provides for a five-year tax holiday on new developments, relaxes import duties on new equipment, allows repatriation of profits, and offers fair compensation at such a time as the Indonesians are able to take over any industry and run it themselves. "We really need foreign capital for our nation's development," said Suharto in explaining...
...past three years, a surprisingly amiable intellectual dialogue between Christians and Marxist atheists has been under way in Europe. Although there are few domestic Communists around who are worth debating, U.S. theologians are showing interest in joining the discussion - even if they have to import a Communist. Thus Manhattan's Union Theological Seminary, the Harvard Divinity School and Jesuit-run St. Louis University were among the dozen institutions that played host to Roger Garaudy, the chief theoretician of the French Communist Party, while he was on a brief U.S. lecture tour this month. Last week officials of the Soviet...