Word: loan
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Dates: during 1960-1969
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...back on its feet. As one condition, IMF aides scrutinized and gave tacit approval to the draconian British budget introduced last week (see THE WORLD) before the Labor Government dared present it to Parliament. Had the IMF considered the British economic cutback too meager, it could have canceled the loan and so forced Britain at least to the brink of a second devaluation. The price Britain is paying for its profligacy is a partial loss of economic sovereignty to one of the most effective international organizations in history. Schweitzer considers it a badge of honor to have been denounced lately...
...direct result of the gold emergency, the Federal Reserve Board has already raised the discount rate-the interest that Federal Reserve banks charge member banks to borrow money-from 4½% to 5%. That increase will make loans less avail able-and more expensive. Very shortly, people seeking a bank loan for a car, a trip or a color TV set will probably find that it is costing them more in interest than it would have last week; those with less than gilt-edged credit ratings may find it impossible to borrow from a bank. The same principle applies...
From Broom to Pencil. Such modern techniques, combined with fast reaction to loan requests and an unusual willingness to take chances, have pushed Bradesco from nowhere 25 years ago into a commanding position as Brazil's biggest private bank-second in size to the federal government's bank. It now has deposits of $175 million, serves 1,200,000 customers and claims 174,000 shareholders, including all of its 8,064 employees...
...model community school system," pay for 2,500 new houses a year, allocate $112 million in health projects, provide 600 more health aides in Indian communi ties, spend $22.7 million on community-action schemes and $25 million on concentrated employment plans and vocational training, organize a $500 million revolving-loan guarantee and insurance fund, and allot $30 million a year to build roads linking isolated Indian communities to the rest of society...
...feel that it has accomplished too little. Though limited in staff size as well as funds, the I.R.C. has indeed played an active role in relatively few of the country's many recent mergers. One of its notable public achievements was its help, including a $42 million loan, in arranging the marriage of Elliott-Automation and English Electric into a single $990 million-a-year computer-making company. The I.R.C. has also worked behind the scenes on even bigger deals, including General Electric Co. Ltd.'s acquisition of Associated Electrical Industries Ltd. For that, however, it received criticism...