Word: loaned
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Dates: during 1990-1999
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...relief, but advice to the newly elected class. Many Republicans have credited him with the achievement of majorities in both houses of congress for the first time in forty years. Recently, Chair of the Federal Reserve Alan Greenspan called Mr. Limbaugh, hoping to persuade him to advocate the Mexican loan guarantee agreement as it faced heavy opposition by Republicans in Congress...
...foreign countries--that convinced Clinton he had to bypass Congress altogether. With the Mexican peso sliding, only $3.5 billion left in Mexican currency reserves and financial markets throughout Latin America on the brink of collapse, the President last week invoked his executive authority to grant Mexico $20 billion in loans and loan guarantees as the centerpiece of a coordinated bailout. Following Washington's lead, the International Monetary Fund agreed to provide Mexico with a further $17.8 billion, and the Swiss- based Bank for International Settlements kicked in an additional $10 billion...
Experts say the country that defaulted on millions of dollars in loan payments in 1982 has greatly strengthened its economy since then. It has balanced its budget three years in a row; sold off costly state-owned companies like Telefonos de Mexico, the country's largest telephone firm; and locked into place an open-market policy by joining the North American Free Trade Agreement. And even though Mexico still lacks a large, consumer- oriented middle class, business activity grew a healthy 3.1% last year...
President Clinton used his emergency powers to craft an economic rescue package for Mexico intended to avert the possibility of loan defaults that could ignite financial panic throughout the hemisphere. The President thus neatly bypassed congressional opposition to his original proposal of $40 billion in loan guarantees. Despite some grumbling on Capitol Hill, the President's move received support from both the Republican and Democratic leadership (and a sigh of relief from many members happy to be freed from having to vote on a controversial aid package). For the most part, Mexican financial markets reacted favorably to the President...
President Clinton used his emergency powers to craft an economic-rescue package for Mexico intended to avert the possibility of loan defaults that could ignite financial panic throughout the hemisphere. The President thus neatly bypassed U.S. congressional opposition to his original proposal of $40 billion in loan guarantees. Despite some grumbling on Washington's Capitol Hill, the President's move received support from both the Republican and Democratic leadership (and a sigh of relief from many members happy to be freed from having to vote on a controversial aid package). For the most part, Mexican financial markets reacted favorably...