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...Beginning in mid-October, Lee sprang into action. The government earmarked $100 billion to guarantee new foreign debt for banks through mid-2009 in a bid to maintain the economy's access to foreign-currency borrowing. Shortly afterward, the Bank of Korea finalized a currency-swap agreement with the Federal Reserve to ensure a supply of dollars for the economy, which gave a big boost to confidence. In early November, the Finance Ministry announced an $11 billion stimulus package that included tax breaks and new infrastructure spending. The moves have recently brought some stability to stock and currency markets...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

...think America will be able to maintain its position as a global economic leader with the current financial upheaval? Brent Perry, SINGAPORE...

Author: /time Magazine | Title: 10 Questions for Ted Turner | 11/13/2008 | See Source »

...Columbia University, spent last year at Harvard, where he received his master’s degree. “This seems like an exciting time for the arts in general,” he said. With the winter of 2008 now rapidly approaching, members of the Task Force maintain that their first report is forthcoming. No specific date for its release has yet been set.Until it is published, the exact contents of the Task Force’s report will remain a mystery to students and other members of the Harvard arts community. While the Task Force has taken into...

Author: By Alexander B. Cohn and Meredith S. Steuer, CRIMSON STAFF WRITERS | Title: Putting Art to the Task | 11/13/2008 | See Source »

...digital fun squad," "legal support" and "press liaison." The media gossip blog Gawker printed a bulletin supposedly from the organizers that told volunteers to find strategically located U-Haul trucks (which held the papers) around the city. Going for an ultimate guerilla effect, the bulletin said, "We want to maintain maximum mystery around this, for as long as possible - at least for a couple of days...

Author: /time Magazine | Title: No, the War Is Not Over | 11/13/2008 | See Source »

...Western nations have claimed they have many millions of dollars marked for Zimbabwe, waiting for Mugabe’s removal from power to be released. This pragmatic acknowledgement that little can be done with Mugabe still a primary player seems justified: Mugabe has managed to maintain his grasp on Zimbabwe for this long. Yet Western nations cannot give in to cynicism. Some of that earmarked money must be sent to the WFP, for example, to help address Zimbabwe’s immediate food crisis, even if they might face resistance from Mugabe, who blocked a similar appeal for emergency funds...

Author: By Alexander R. Konrad | Title: Optimism’s Test | 11/12/2008 | See Source »

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