Word: loaned
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Dates: during 1980-1989
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National Public Radio (NPR) will broadcast its normally scheduled programs today after receiving an $8.5 million loan allowing the network to replay debts which threatened to halt its programming...
...squeeze on loan deadbeats
...France this year, marking the 200th anniversary of the Montgolfiers' first balloon ascent, hot-air balloons are hot indeed; the original flight will be recreated Sept. 19 at Versailles. Meanwhile the Grand Palais is holding an aviation exhibition, with machines on loan from Washington and Moscow, through August. Hot-air flight is also the specialty of the 18th century Château Cezy, located 90 miles southwest of Paris. Its owner, Englishman Donald Porter, offers fearless vacationers ballooning in Burgundy, a four-day, three-night aerial adventure. Meals and wines are lavish, with matching prices: $1,700 a person...
...government, though, is financially strapped. It could not make a $400 million loan repayment due late last week to the Bank for International Settlements, which serves as a kind of central bank for the central banks of major industrial countries. BIS had twice postponed the deadline for this payment, but announced that it would give Brazil no more time. The BIS pronouncement was obviously designed to pressure Brazil into coming to terms with the IMF for additional loans...
...Brazil faces scheduled payments this year of $13.8 billion in interest and principal, far more than the country can raise without new credit. A $10.2 billion emergency loan package put together in February by the IMF and Western commercial banks came unraveled because the Brazilians did not meet all the agreed-upon conditions. Though they curbed imports enough to come very close to a target $3 billion trade surplus for the first half of the year, they failed to slow inflation and government spending. As a result, the IMF and the banks in May suspended the flow of loan money...