Word: interests
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Dates: during 1980-1989
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...several hundred guerrillas of the People's Revolutionary Army (E.R.P.), the strongest of five factions that make up the 10,000-member Farabundo Marti National Liberation Front, have begun battling government forces for control of the economically vital region. "Cirilo," the western regional commander of the E.R.P., explains, "Our interest is to lead the people toward insurrection. They are already clandestinely organized, and now we are moving to arm them...
...rejected the notion that debt reduction should be achieved by commercial banks writing off a significant portion of their loans. But the Administration is now encouraging U.S. commercial banks to reduce some of their Third World loans by allowing debtor countries to make smaller payments on their principal and interest obligations. Brady left many of the plan's details vague, and the initial response from bankers, Congress and Latin American finance ministers was guarded. The Mexican government called the plan a "first positive step" but cautioned that many details still need to be worked out. New Jersey Senator Bill Bradley...
...just the opposite. Most banks simply refused to issue new loans, fearing they would be throwing good money after bad. As a result, debtor countries found themselves using more and more of their scarce currency reserves to pay their debts. Last year Latin American nations paid $26 billion in interest to their creditors but received only $6 billion worth of new bank loans. The results were stagnant growth and a rate of inflation that has soared to 400% in Argentina and 1,000% in Brazil...
...Brady proposal hopes to reverse that tide by giving lenders an incentive to ease the pressure on debt-ridden countries. A banker, for example, might be willing to accept lower interest payment on an existing loan -- 6% a year, say, as opposed to 10% -- if assured that all interest payments would be made on time. In recent years, many strapped Latin debtors have repeatedly made late interest payments. This has an immediate and painful effect on the creditor bank, since it lowers its quarterly earnings. Under the new plan, the International Monetary Fund and the World Bank would insure that...
...prejudices are further unsettled by his growing interest in Aloysius Prettiman, a figure of caricature in the earlier books but now a man, seriously ill, who attracts Talbot's sympathy. Prettiman, a political radical, and his new wife are transporting a printing press with which they hope to stir change in the convict colony. Talbot reprimands stiffly: "And you, sir, travelling with the avowed intention of making trouble -- of troubling this Antipodean society which is created wholly for its own betterment!" Yet the young Englishman could become dry tinder for Prettiman's incendiary rhetoric: "Imagine our caravan, we, a fire...