Word: payment
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...anticipates a tense, three-way tug of war developing among private bankers, debtor countries and international institutions like the International Monetary Fund. The bankers want payment on their loans, the developing countries are not anxious to take austerity measures to pay their debts, and international institutions are reluctant to lend still more money to the poor countries except on tough terms. The result of the three-sided struggle could lead to more political unrest in some Third World countries...
...Coop's early success--and to today's success as well, say current members of the Board of Directors--is simply good business management. To curb a spendthrift Harvard community, the original student founders mandated in the constitution that payment for goods be in cash only. The cash-only requirement has since changed--as any undergraduate carrying that all-important red plastic well knows--but the same keen business sense still permeates the operation...
...American Government has also moved decisively to aid Mexico. The U.S. Commodity Credit Corp. is guaranteeing $1 billion in private bank loans for Mexican companies to buy American agricultural products. In addition, the Reagan Administration has agreed to give Mexico an advance payment of $1 billion on future oil deliveries for the U.S. strategic petroleum reserve. The hope is that this cash transfusion will help give Mexico enough time to turn things around. Washington realizes all too well that a Mexican economic collapse would be too close to home for comfort. -By Charles Alexander. Reported by Jay Branegan/Washington and Laura...
...Department, acting on a federal civil suit that revealed financial improprieties with the Walco National Corp. of New York, which Richmond controlled, began an investigation of the Congressman. Last week Rich mond, 58, pleaded guilty to tax evasion, possessing marijuana cigarettes obtained from his staff and making an illegal payment of $7,420 to a Navy employee who had been helpful in winning Government contracts for a Brooklyn ship-repair firm...
...there has been little opposition to Mexico's request to postpone the payment of $10 billion in principle on short-term loans. There is still no agreement, though, on Mexico's request for up to $1 billion to use as a stand-by loan...