Word: indebtednesses
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Until then, Washington's position was that the debt burden--some $415 billion owed by 56 African, Latin American and Caribbean countries alone--could be reduced through the adoption of tough austerity measures by the debtors under the supervision of the International Monetary Fund. At Seoul the so-called Baker...
"We are going through an emergency, a very real one." So said Mexico's Finance Minister, Jesus Silva Herzog, as he emerged from a conference on the international debt crisis in London last week. Silva Herzog was not alone in that assessment. In the Caribbean resort town of Cancun, his...
Caught in cross fire during the crisis, Israel could count few if any gains. It was part of an arrangement that had at least the appearance of making concessions to terrorists, a violation of national policy. Last week, barely a day after the hostages were freed, Israeli officials ordered the...
"The day of the emigrants' arrival in New York was the nearest earthly likeness to the final Day of Judgment, when we have to prove our fitness to enter Heaven," wrote Globetrotter Stephen Graham. (His report of a 1913 journey is one of scores dug up by Irving Howe for...
More Growth Abroad. The U.S. has been the engine of expansion for the world during the past two years. Other countries, especially those in Western Europe, and Japan, should now stimulate their economies and share the burden. Such action would boost their imports and lower the U.S. trade deficit. Foreign...