Word: tightening
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...Tighten Up. To qualify for substantial foreign help, able Commerce Minister Alberto Ullastres (a former economics professor) flew home from a last round of conferences in Washington and Paris, to start a long list of major reforms. The government decreed that the peseta, which up until now has been subject to at least 13 different exchange rates, would be fixed at 60 to the dollar. Excused for the time being from paying $45 million in foreign debts. Spain would get an injection of $375 million in additional aid from the U.S., OEEC, the International Monetary Fund, private U.S. concerns...
...Announced, in a move to tighten U.S. relations with Africa's new states, that the Republic of Guinea's President Sékou Touré (TIME cover, Feb. 16) had accepted an invitation to make an official U.S. visit next October...
...Tighten credit and stop printing paper money...
There is a growing feeling at Treasury and at the Federal Reserve Board that the 4¼% limit will have to be raised by Congress, even though economists and businessmen worry that raising the rate would cause a general rise in long-term rates and tighten money enough to choke off gains in business. Finding a solution to the Treasury's problems cannot wait much longer. In July the Treasury will have to borrow additional billions. A sudden sharp contraction in the stock market might conceivably cause a shift back into bonds, but nobody regards that as a real...
...remedy all this, Mao and his colleagues brusquely ordered local Communist cadres "to tidy up the people's communes" before mid-April, when Red China's 1959 economic plan must be approved by the nation's pseudo-parliament. To acquire the additional activists desperately needed to tighten up government control over the communes, the Chinese Communist Party has recruited an estimated 1,000,000 new members in the last five months. Mao has also thrown into the communes army units of up to division strength to lend a hand with plowing, irrigation projects, training of technicians...