Word: loaned
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Dates: during 1950-1959
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India must use $55 million of the U.S. loan to promote the country's harassed private enterprise...
...empty treasury. The nation's income from exports (bananas, cacao, coffee) fell off this year. President Velasco ran up deficits by spending lavishly for public works and-to keep the army contented-for military equipment. The government owes public employees back pay, is half a year behind on loan repayments to the World Bank and the Export-Import Bank...
Fast Conversion. A loan exhibit of Fleischman's collection at the University of Michigan last winter attracted U.S. Information Agency officials. They asked Fleischman to make it a traveling exhibit. Says Fleischman: "I felt it was time the Latin Americans had a glimpse of North American art. I came along myself because I wanted to see, to be a part...
...Although the maximum legal interest rate on bank loans in New York State is 6%, a consumer who borrows $100 for one year at the maximum rate has $6 interest deducted in advance. Thus the borrower not only does not receive the full amount of money on which he pays interest, but keeps paying interest on the full amount of his note as he repays the loan. The borrower winds up paying the bank an effective rate of some $12 interest...
...next critical months. A report by the Commerce Department and the Securities & Exchange Commission this week predicted that the money shortage-as intended -will force business to push some expansion plans over into 1957. But far from canceling major expansion plans, many businessmen argued that any possible savings in loan costs in the future would be more than offset by higher-priced labor and materials if they postponed construction. Said Arthur Longini, chief economist for the Chicago & Eastern Illinois Railroad: "We're going right ahead borrowing for capital improvement. We feel that this economy has a built-in inflation...