Word: lowered
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Dates: during 1980-1989
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Payments for $43.7 billion in old debts are rescheduled and are now stretched over 20 years. Interest is lowered on all the debt. The premium that the Mexicans must pay on top of the London Interbank Offered Rate, a benchmark international interest rate, has been trimmed to .81%, down from as much as 1.5%. Lower interest costs will save Mexico $300 million a year. An especially innovative part of the plan is the provision that if the world price of oil drops under $9 per bbl. and Mexico's economic growth falls below a 3.5% annual rate next year...
...their new cars gradually to 27.5 m.p.g. by 1985. Now, three Administrations and a glut of cheaper oil later, gasoline-saving passions do not run quite so high. Last week the Department of Transportation's National Highway Traffic Safety Administration (NHTSA), which enforces the fuel-efficiency requirements, agreed to lower the standard to 26 m.p.g. for 1987 and 1988 cars...
...obliviousness to the implications of the oil crisis reigned, and even minimal maintenance of Detroit's sometimes ramshackle assembly lines was squeezed. Meanwhile, Nissan, with its original ungainly Datsun, and other Japanese companies won over American customers by tinkering constantly to produce better cars, backed by better service, at lower prices...
...investments, ranging from stocks to real estate. The current top rate for taxing such gains is effectively 20%, but after this year, those profits will be taxed as regular income at higher rates. "I've seen a lot of my clients already selling stocks to benefit from the lower rate," says Mike Ryan, a Chicago financial planner...
...Crimson failed to advance to next week's ECAC Championship Tournament. The combined efforts of Doug Albrecht (who shot a 79), Tom Aucamp (81), Patrick Kenary (81), Terry Murray (85), and Dan Mahoney (89) were not enough to overtake first-place MIT. Had Albrecht finished one shot lower, he would have been able to advance to the finals as an individual...