Word: nationalizes
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Dates: during 1970-1979
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...strike a balance between what she may consider as her particular interests and the necessities of her action in the world. In readapting her policies to new realities, America needs no other counsel than the inspiration that she will draw from the ideals upheld by the founders of her nation and the unique achievements of her glorious past. It is important for all the world that she succeeds. I want, on the occasion of the Bicentennial, to convey to the American people the warmest wishes of the Turkish nation for the further pursuit of the ideals of their great democracy...
...have been inevitable. To a degree, programming follows the headlines. When television convinced itself that youth was in a prerevolutionary state during the late '60s, shows like Mod Squad tried to cash in on the excitement. When the blacks and other ethnic minorities asserted a claim on the nation's attention. Sanford and Son was sure to follow. Once the feminists started gaining attention, how could a producer fail to concoct something like Charlie's Angels...
...collateral on which Zaïre managed to borrow extensively abroad. It now owes $2.9 billion, $800 million of which is due private lenders in the U.S., Europe and Japan. But instead of achieving steady growth, Zaïre became a textbook example of how a Third World nation can dig itself into an economic hole. Today the country is all but bankrupt; it has fallen badly behind in repaying its debts. Manhattan's Citibank and other creditor banks have agreed to arrange a new $250 million loan, but first they imposed tough conditions under which Mobutu will...
...governments and international agencies necessary to finance all these projects has jumped from $34 million in 1970 to $200 million in 1975. Zaïre last year suffered a balance of payments deficit estimated at more than $500 million, and its inflation rate is now around 40% annually. The nation this year devalued its currency by 42%, doubling prices for imported items like South African canned foods. Mobutu in 1973 forced out many foreign businessmen and farmers in an attempt at "Zaïrianization"; now he has asked many to return. Le Guide may also face political trouble. During...
Western bankers agree that Mobutu is not entirely to blame for the country's troubles. Some fault themselves for being too eager to lend to the unsophisticated nation in the expectation of high returns. Says one Western banker: "What was needed here earlier in the '70s was a guy in a green eyeshade saying 'Wait a minute.' Mobutu didn't know he was in trouble. Western institutions weren't telling him he was getting into trouble. Mobutu has learned a lesson, but the West has too-not to come into a country like...