Word: outflowing
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...deficit mounted. A copious influx of foreign capital, some in flight from economic and political instability abroad and some attracted by the high real rates of return in the U.S., held the dollar up. As West European governments kept their own interest rates high in order to stem the outflow of capital, their economies worsened and their leaders began urging the U.S. to take stronger measures to get interest rates down to tolerable levels. For most of the year, these pleas were ignored...
...Overseas Chinese are worried about the future after the expiration of the lease," explains Chao Yao-tung, Taiwan's Minister of Economic Affairs and a former businessman, "and we will try to get some of the capital outflow. Even 10% or 20% would be of great help." To that end, the Taiwan government plans to create a free-trade zone and banking center on the island. In an unregulated, Hong Kong-like environment free of import taxes, businessmen would be able to enter without visas, taxes would be low, and red tape minimal. In the eyes of Taiwan...
...controlling the banking system, the Mexican government hopes to slow the currency outflow. Under regulations now in force, most dollars in Mexican bank accounts, a total of about $12 billion, will be frozen and not allowed to leave the country. People who withdraw their money must accept it in pesos...
...effort to stem the outflow of funds, the Nigerian central bank two weeks ago ordered all 26 commercial banks in the country temporarily to stop processing or issuing import letters of credit and to cease approving applications for the conversion of Nigerian currency into foreign funds to pay for imports. Nigerian businessmen believe that their country will be forced to adopt still stricter import measures later this spring...
...past nine months alone, Canada's battered economy has sustained capital outflows of more than $10 billion, compared with an average outflow of about $2 billion annually during the 1970s. Much of the money is leaving not just because of current economic upset but because of a perceived sense of increasing intervention in the Canadian private sector by the Ottawa government...