Word: renew
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...move followed a disastrous drop in the value of the South African rand, which was worth $1.29 in 1980, 80 cents in early 1984, and last week hit an all-time low of 35 cents. Another critical factor has been the refusal of many American and European banks to renew loans to South African borrowers. Last week the governor of South Africa's central bank, Gerhard de Kock, flew to Europe and the U.S. to try to convince bankers that South Africa remains a sound investment. But his efforts were made more difficult by the crescendo of unrest at home...
Exactly how much effect the political unrest has had on the stability of the country is hard to judge, but the economic impact has been considerable. Given the state of unrest, many foreign bankers seem determined not to renew loans as they mature. This is particularly serious because so much of the debt is short-term; according to various estimates, about two-thirds of South Africa's total foreign debt of some $17 billion will mature within a year. In the past, the banks simply rolled these borrowings over, in the fashion of a charge account. The government's immediate...
According to a spokesman for Sears, Bob Buzbee the real estate department for the nationwide chain 'could not agree to terms" with the owner of the property. Peter Wasserman & Associates. He declined to elaborate, except to say that 'they did not want to renew out lease...
Attempting to capitalize on the occasion. The Coop will set up table to try to attract browsing alumni to renew their Coop memberships. The department store also expects a large business from seniors seizing their last chance to buy Harvard T-shirt...
...reliable alternative to General Dynamics' widely used F-16. The Tigershark's reputation had already suffered from a crash last October in South Korea, although investigators blamed the accident on pilot error. Last week's disaster left Northrop with only one prototype. Still, Chairman Thomas V. Jones vowed to renew his efforts to sell the aircraft...