Word: lending
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...flip side to this is that each crew has its moment in the sun, no matter how poorly it does. The boats glide one-by-one under the packed Anderson Bridge, and throngs of enthusiastic well-wishers lend their support to each vessel. Only when the times become known a half-hour after the event ends are the winners determined. For the fans, the results often remain unknown unless they read the agate type in the next day's Globe...
Washington has run deficits in 42 of the past 50 years and has been forced to borrow heavily to bridge the gap between income and outlay. The Government does this by issuing bonds, notes and bills, which are promises to pay money back to investors willing to lend it. In the main, Washington owes the $1 trillion to Americans. Only 14% of the public debt is held by foreigners...
...season will aim for the big hit by distilling familiar formulas: stars and songs. On a good night, Broadway will have more stars than there are in Hollywood. Elizabeth Taylor spent the summer in town with The Little Foxes, and this fall a quartet of grandes dames will lend their incandescence to the stage: Katharine Hepburn in The West Side Waltz, Claudette Colbert in A Talent for Murder, Anne Bancroft in Duet for One, Joanne Woodward as Shaw's Candida. And then, and always, there are the musicals. At least 16 have been announced, including one potential gem that begins...
...third agreement broken in 17 months. According to the IMF, Costa Rica had once again failed to keep its promise to curtail excessive spending. Laments Economist Edward Lizano: "I think we have the world championship in broken IMF agreements." The situation is now so bad that nobody will lend Costa Rica even the short-term money it needs for the rest of the year. In July and August, the government sent representatives to the U.S., Canada, West Germany, France, Mexico, Venezuela and Colombia in pursuit of a fast $60 million; the representatives came home emptyhanded...
When Carazo asked the IMF to lend Costa Rica money for the third time last January, he immediately began to sell dollars on the open market in order to bolster the sinking colón and thereby impress the IMF staff negotiating in San José. The cost: $45 million. As soon as the IMF team left town, the colón dropped again. In May he sold the country's $41 million in gold reserves stored at Fort Knox to pay short-term debts, further demonstrating that his government was, as a local journalist puts it, "like...