June 21, 1998 |
International finance officials meeting here Saturday ratcheted up the pressure on Japan to fix its floundering financial sector fast, with U.S. Deputy Treasury Secretary Lawrence Summers warning that Japan's window of opportunity for reform won't last.
April 21, 1986 |
President Jose Sarney, bursting with optimism, has declared inflation dead in Brazil. Six weeks after the government's dramatic monetary reform of Feb. 28, Sarney said in a televised speech last week that the cost of living during March had been rolled back by 1.48%. In February, prices went up by 15%. This was the first time since the world economic crisis of 1929 that Brazilians have experienced a price contraction.
February 10, 1988 |
A 40-year-old dream of bringing arithmetical simplicity to the Italian lira is being revived here as a celebration of national economic maturity. The government of Prime Minister Giovanni Goria proposes to remove three awkward zeroes from the lira. Zero-stripping is most common in Latin America, where it is often required by runaway inflation. In Italy, in contrast, the Goria government argues that economic stability and the conquest of inflation are the reasons that it is possible.
February 7, 1986 |
President Reagan's call this week for a study of a possible international monetary conference has strengthened a movement demanding a curb on volatile exchange rates, monetary experts said Thursday. Although the volatility has disrupted world trade and swelled the U.S. trade deficit, chances of a major overhaul, such as a return to fixed exchange rates, are seen as extremely slim.
November 16, 1992 |
When President-elect Bill Clinton moves into the White House in January, the Democratic Party will gain control of all of the major levers of economic policy-making, with one critical exception--the Federal Reserve Board. In fact, it appears that the nation's independent central bank could be controlled by appointees of Ronald Reagan and George Bush throughout Clinton's four-year term. In addition, conservatives dominate key posts in many of the Fed's influential regional banks.
April 15, 1998 |
The Clinton administration on Tuesday proposed modest changes in the international financial system designed to help prevent the kind of economic turmoil that has enveloped several Asian countries in recent months. The package, outlined in a speech by Treasury Secretary Robert E. Rubin, includes measures aimed at forcing big international banks and other investors to assume greater losses when they have made shaky loans--a politically charged issue in Congress.