Word: loaned
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Dates: during 1970-1979
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...from the industrial countries was understandable. The conference, lamented New Zealand's Prime Minister Robert Muldoon (who also serves as Finance Minister), was plainly "overshadowed by events." They included the political uncertainties in the U.S., Japan and West Germany, Britain's request for a $3.9 billion IMF loan to prop up its suffering pound sterling, and the growing probability of another price increase by the oil-exporting countries this winter...
...single trading session-which, apart from formal devaluations, was the greatest drop in one day since sterling was floated in 1972. By week's end, after the government had announced that it would prop up the pound by asking the International Monetary Fund for a standby loan of $3.9 billion, sterling had recovered some of its loss and stood at a shaky...
...weapon against the rapid deterioration of what was at one time the world's mightiest and proudest currency. About $1.23 billion of that total already borrowed by Britain must be paid back by December. Part of the debt will have to be paid with the new loan applied for last week...
Callaghan and Healey had put their fingers on the problem, and their leftist adversaries knew it. Despite their catcalls, the Laborites voted overwhelmingly to support Callaghan's policies and the decision to seek the IMF loan...
...many of the railroads of the world, the Japanese National Railway is on the brink of bankruptcy. Last week the line was barely saved from defaulting on $138 million in debts to 10,000 private companies when it canceled maintenance and construction contracts and received a $138 million stopgap loan from the Finance Ministry. Even so, more huge debts fall due next month, and the government is in no mood for another rescue. The Finance Ministry and private banks, which in the past have generously bailed out the railroad, are opposed to further advances unless the railroad puts through some...