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...Iran faces a balance of payments deficit of $130 million over the next two years. Until recently, the Shah has ignored the unpopular advice of Western economic advisers, who told him the deficit could have been avoided by vigorously curbing domestic inflation, and by clamping down on the import of luxury items that use up the hard currencies desperately needed for economic development...

Author: /time Magazine | Title: IRAN: Promise to Reform | 10/17/1960 | See Source »

...course, that figure of 250,000 has to be examined before its import can be told. In the first place, it was one of those not-too-reliable sheriff's estimates. ("Well, Sheriff, how many people do you think we've got here?" "Wall, I don't rightly recollect ever seeing so many before, but it must be at least 50,000.") In the press bus during the motorcade's progress, Boston newsmen made guesses ranging from 100,000 to 200,000, but the final figure, arrived at by two police officials, was 250,000. "The important thing is that...

Author: By Michael S. Lottman, | Title: A Lively Corpse | 10/4/1960 | See Source »

Rear Admiral (ret.) William L. Erdmann was against the practice of paying import duties on whisky; see NATIONAL AFFAIRS...

Author: /time Magazine | Title: A Letter From The Publisher, Sep. 26, 1960 | 9/26/1960 | See Source »

...prices of what it buys (industrial ma-thinery, tractors, cars) are rising steadily. ¶Foreign private investment-as lately as five years ago the Latin American area was the No. 1 beneficiary-is falling fast. Capital from U.S. Government sources has also been decreasing. In 1959, the Export-Import Bank of Washington collected far more in repayments and interest from the region than it laid out in new money...

Author: /time Magazine | Title: THE AMERICAS: Coming to Grips | 9/12/1960 | See Source »

...against the need, the sum is small. It is less than the amount lost by Latin America this year because of the adverse terms of trade; it is only twice as much as the capital expected to be taken this year from the region for repayment to the Export-Import Bank. Brazil's chief delegate to the Bogota meeting, Augusto Frederico Schmidt, author of Brazil's Operation Pan American, which asks $10 billion in 20 years of aid to the region's economy, says that the U.S. proposal is "very kind, very generous," but it is only...

Author: /time Magazine | Title: THE AMERICAS: Coming to Grips | 9/12/1960 | See Source »

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