Word: loans
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Dates: during 1980-1989
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Alfonsín has yet to produce his long-promised strategy for curbing inflation or for negotiating with the International Monetary Fund a restructuring of the country's foreign loan obligations (although last week Argentina, Brazil, Colombia and Mexico were reported to be discussing in general terms various proposals for repaying their debts after a grace period that has yet to be determined). Instead, his administration seemed at first to neglect economic concerns in order to concentrate on human rights and labor issues. One of Alfonsín's first official acts was to sign decrees accusing...
...Larosière and his staff at the IMF are paying particular attention to the perilous financial situation in Argentina. Six weeks ago, the IMF and the U.S. Treasury paved the way for a $400 million loan package from Latin American countries and international banks that enabled Argentina to meet a deadline for paying overdue interest on its $44 billion debt. But that was only a stopgap measure. At a meeting last week in Buenos Aires, IMF staffers and Argentine officials began working on a plan to get the country's finances in order. Argentina's 320 bank...
...November 1982, when Mexican and Argentine loan agreements were being considered, De Larosière sent telegrams to major commercial lenders, inviting them to a meeting at the New York Federal Reserve Bank. At the session, he told the bankers that if they did not put up $5 billion in new money for Mexico and $1.5 billion for Argentina, the IMF would not approve rescue programs for those countries, further jeopardizing chances of the banks' getting back any part of their money. The moneymen were stunned...
...dark days of the Iranian Revolution in 1979, Jimmy Carter left a week-long retreat at Camp David with a plan to free the U.S. from its bondage to OPEC oil. He proposed creating an $88 billion Energy Security Corporation that would encourage alternative energy projects, primarily through loan and price guarantees. The ambitious goal to produce the equivalent of 2.5 million bbl. of oil per day by 1990. When Carter signed the Energy Security Act on June 30, 1980, he declared, "The keystone of a national energy policy is finally being put into place...
...Plaquemine, La. The agency has issued letters of intent to four other projects, including one for $365 million to Signal Energy Systems' Northern Peat Project in Maine and another for $790 million to the Great Plains Coal Gasification Project in North Dakota, which has received $2 billion in loan guarantees from the U.S. Energy Department. Energy Secretary Donald Hodel acknowledges that "drilling in America would produce much more oil" than the SFC will get for its $15 billion...