Word: outflow
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Dates: during 1970-1979
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...loans to South Africa have helped the South African regime counteract the outflow of investment capital since last June. For this reason, pressured by public interest groups, several banks have agreed to make no new loans to South Africa. Manufacturers Hanover and Morgan Guaranty have also been under pressure. For example, in July the furriers union in New York withdrew over $10 million from Manufacturers Hanover because it continued lending to South Africa...
...rhetoric and his apparent commitment to social change terrified the Mexican bourgeoisie. A group of American congressmen warned that Mexico was becoming a socialist country and that before long a new 'Red Cuba' would emerge south of the border. The general fear created by this situation caused the outflow of a considerable amount of capital, precipitating the devaluation of the peso last August from eight American cents to four. By this time nearly half of Mexico's labor force was out of work or underemployed, and inflation reached an annual rate of 25 per cent. In the three months left...
Still, only a small proportion of the illegal capital outflow is being transported by Mercedes and motor scooter. Until new antismuggling laws were passed last April, lire in cash or checks could be transferred to some Swiss or Liechtenstein banks via clandestine exchange channels in Rome and Milan. Huge sums have also been sent abroad by the device of under-invoicing exports and over-invoicing imports; the excess amounts were then deposited in bank accounts abroad. But when it seemed that the Communists might make major gains in last June's elections, Switzerland was awash in a flood...
...from more than $102 million in November to less than $38 million. Wealthy Jamaicans have illicitly exported perhaps $200 million abroad; some of the currency has been smuggled out in fake cigarettes, fortune cookies and pork carcasses. Says one member of an intelligence force trying to halt the financial outflow: "It has replaced the smuggling of ganja (marijuana) to Grand Cayman, Miami and Canada...
...Saigon has shown some surprising strength in recent months. True, the rate of inflation has been running at around 40% a year, while soaring oil costs have resulted in a gaping foreign trade deficit. But a strict austerity program for petroleum and a cutback on imports has reduced the outflow of foreign exchange. More important, South Viet Nam in 1975 should become a net rice exporter for the first time since...