Word: wages
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Dates: during 1980-1989
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Israelis are shielded from rocketing prices by an elaborate system of indexation that adjusts not only wages but personal savings and pensions. The increases are made monthly, but they do not make up the full difference. Wages in the military, for example, have not kept up, forcing career soldiers to leave for civilian life. The real (i.e., inflationadjusted) salaries of civil servants have dropped by 14% in the past seven months, causing strikes or slowdowns that have hampered services ranging from mail deliveries to issuing passports. The government averted another rash of strikes by agreeing on a two-year contract...
Asked about Sakharov, the Nobel Peace prizewinner whose fate has been a mystery since he reportedly began a hunger strike May 2, Zamyatin grew red in the face. "You have 2 million unemployed!" he lectured American correspondents. "Academician Sakharov works. He has a wage of $1,125 a month. He lives well, he eats well, and he is all right in all respects...
...bloc. While the two heaviest debtors, Brazil ($93.1 billion) and Mexico ($89.8 billion), have taken drastic measures to rein in their runaway economies, Argentina ($45.3 billion) is still a maverick. Two weeks ago, Argentine President Raúl Alfonsín rejected an IMF austerity demand for cuts in wages and government spending, which was designed to curb his country's 568% inflation rate. Alfonsín sent the IMF a plan that promised workers 6% to 8% wage increases on top of the inflation rate...
Cold winter weather settled over Argentina last week, but for President Raúl Alfonsín the heat was on. A team of negotiators from the International Monetary Fund was pressing Alfonsín to curb Argentine wages and government spending as part of an austerity program that would qualify the country for a new $2.1 billion package of loans. At the same time, Argentine labor unions were demanding hefty wage hikes, and about one-fifth of the country's work force was either on strike or threatening to walk...
...negotiators in Buenos Aires, Alfonsín sent his own economic plan to IMF headquarters in Washington in a direct plea to Managing Director Jacques de Larosière and the fund's 22-member executive board. The plan calls for Argentine workers to receive 6% to 8% wage hikes this year on top of whatever increases they need to keep pace with inflation. IMF economists have argued that such a policy could cause Argentina's 568% inflation rate to spiral even higher. But Alfonsín hopes that the IMF board, which is controlled by the governments...