Word: outflow
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Perhaps the best weapon she could wield against the growing Communist threat would be an improved economy. As it is, her presence and her free enterprise policies have already restored a little business confidence. As capital outflow has all but halted, hard-currency reserves, down to only $200 million in February, are now back to $2 billion. Yet the economy is still in desperate shape and dependent upon outside aid, especially from the U.S. In Manila, more than one in every two people does not have a full-time job, and in the countryside, four children in every five...
What can be done, if indeed something should, to safeguard the center? M.I.T.'s Thurow believes the Government should take a stronger hand in helping industries improve the country's global competitiveness and halt the outflow of well-paying jobs. The Brookings Institution's Lawrence disagrees, recommending instead that the Government should make more of an effort to retrain and relocate workers whose skills have become unwanted...
Besides pinching the inflow of drugs, the Government has tried to squeeze the outflow of profits. Since 1980 the Treasury Department has required financial institutions to report any transaction involving more than $10,000 in cash, a step that has sharply limited the ability of trafficking tycoons to invest or spend their money. In the past year the Government has clamped down on twelve major banks that failed to file the forms and may have been accepting drug money, wittingly or otherwise. In January the Treasury Department fined BankAmerica a record $4.75 million for such offenses...
...arrangement announced last week by Grinspun at the joint annual meeting of the World Bank and the IMF, Argentina pledged to clamp down on its money supply and credit, push up interest rates (currently 15.5% for deposits) in order to encourage savings, slow inflation, and stem the outflow of money from the country. Argentina also said it would try to chop the deficit in the biggest areas of public-sector spending from its level of 11.4% of gross domestic product in 1983, to 8.1% this year and down to 5.4% in 1985. In addition, Argentina indicated that it will take...
Since early May, Continental has been eroded by the most relentless run on a major bank since the Great Depression. At least one-third of its $30 billion in deposits has drained away. Despite an unprecedented $7.5 billion in emergency loans from the Government and 28 private banks, the outflow could not be stemmed. The banking system's difficulties in helping one of its key institutions have diminished public confidence in all U.S. banks. Even though each deposit up to $100,000 in a federally chartered financial institution is insured, many Americans began wondering about the safety...