Word: recommends
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Last week Brazil's major creditors met in Paris to see what they could do about saving the nation from bankruptcy-and give President Castello Branco's revolutionary government a chance to work some sorely needed reforms. At U.S. urging, the economists agreed to recommend to their governments that some 40% of Brazil's debt, which normally would fall due in the next two years, be carried over until 1967 and then paid off during the next five years. As an added boost, the U.S. has also just approved a $90 million Food-for-Peace program...
...military sanctions against Castro, specifically a blockade to prevent further gunrunning. But the most that can be hoped for is a two-thirds OAS vote for an economic embargo to cut off Castro's remaining trade ($9,000,000 annually) with Latin American nations. The OAS may also recommend that Mexico, Chile, Bolivia and Uruguay complete Castro's diplomatic isolation by breaking their ties with Havana. When the final vote comes up, Mexico and Chile will probably abstain, and Uruguay and Bolivia are still question marks...
Clever Plan. Now Milligan and his board are being asked to recommend that Pure's shareholders sell out. What the Loeb-Consolidation-Allied group hopes to bring off is a deal that is complex but fairly common in high finance. First, the group would buy Pure's assets for $700 million, using those same assets as collateral for loans to finance the transaction. Pure then would take the $700 million, use $90 million to pay off its funded debt, and distribute the rest to holders of its 10 million shares on a $60-per-share basis. Result...
...jury, recommend the death penalty," said the foreman- and the New York City courtroom echoed with audience applause. Judge J. Irwin Shapiro, an ordinarily soft-spoken veteran of more than 20 years of criminal law, pounded his desk for order, then exploded in his own outburst against the defendant. "I don't believe in capital punishment," he cried, "but I must say I feel this may be improper when I see this monster. I wouldn't hesitate to pull the switch myself...
...things. The industrial nations' delegates made several soft compromises. By supporting proposals to reconvene the trade meeting every three years and to set up a small secretariat at Geneva, they moved toward creating what someday could become a new trading organization for the world. They also agreed to "recommend" that the World Bank grant loans to countries that suffer from commodity-price declines, and that the industrial nations set a foreign aid goal of 1% of their "national income," that is, the sum of their personal income and corporate profits...