Word: ldcs
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Over the next five years OPEC's petro powers will drain as much as $570 billion from the world's oil-thirsty economies. Hardest hit will be the less developed countries. With their credit lines stretched to the snapping point, the LDCs may need $70 billion more than international banks are like ly to provide. Result: a potentially smoldering powder keg of political unrest in the Third World...
...bankers and political leaders, since he has long been optimistic about the ability of the world financial system to handle the recycling of petrodollars. During the 1974 oil crisis, most experts forecast that OPEC coffers would be bulging with about $1.5 trillion by 1979 and that loans to LDCs would be insufficient to cover their deficits. De Vries, however, was among a minority of economists who correctly argued that OPEC would rapidly increase its imports and who predicted that international banks could handle the remaining petrodollar surplus. Now that optimist De Vries has turned pessimist, world moneymen are becoming very...
...year 2000, at current and projected birth rates, world population will have risen to 6.35 billion people from 4 billion in 1975. Most of this growth will be in the poorer, less developed countries (LDCs), mostly in their urban slums and shantytowns. Mexico City, already crowded with more than 10 million people, will swell to more than 31 million people; Calcutta will teem with nearly 20 million, and more than 15 million will jam Bombay and Cairo, Jakarta and Seoul. However, in a chilling Malthusian hedge, the study adds: "In the years ahead, lack of food for the urban poor...
Laments Mwai Kibaki, Kenya's Vice President: "Higher oil prices mean there is less for everything else." The LDCs will also suffer a decline in demand for their exports as the industrialized countries fall into recession...
...homeowner struggling with heating bills may turn to his bank for help, the have-not nations are hefty borrowers. Their loans from Western banks and international aid authorities have surged to a dangerously high $300 billion, and are expected to rise some $60 billion next year. The LDCs may be about to run out of credit to cover their bare requirements. Bankers are becoming increasingly cautious now that payments on their Iranian loans are in question, and they are under pressure to diversify their lending...