NEWS
December 25, 1997 | ART PINE, TIMES STAFF WRITER
The world's major industrial nations, pressed to act faster to alleviate South Korea's deepening financial crisis, announced Wednesday that they will speed up about $10 billion in already promised loans to help stabilize the country's financial markets and stem the outflow of dollars. The move came as the Japanese government also announced new steps to stabilize the ailing Japanese banking system.
BUSINESS
December 13, 1997 | SONNI EFRON and JIM MANN, TIMES STAFF WRITERS
With the South Korean currency and stock markets in free fall Friday and investors near panic, a leading presidential candidate in next week's election was forced to backtrack and pledge support for a $60-billion international bailout of the nation's economy.
NEWS
May 31, 1988 | JIM MANN, Times Staff Writer
Reagan Administration foreign policy-makers are mobilizing their forces--not against enemy troops but against a best-selling book. In a debate with significance for the global U.S. military presence, leading Defense and State department officials are attacking "The Rise and Fall of the Great Powers," a book suggesting that the United States is stuck with more strategic interests and military commitments overseas than it can defend.
NEWS
December 7, 1997 | DAVID HOLLEY and SONNI EFRON, TIMES STAFF WRITERS
South Korea's financial crisis and a $57-billion International Monetary Fund bailout plan approved last week mean that tough times have arrived here. But just below the surface simmers remarkable optimism about this nation's long-term future.
BUSINESS
December 4, 1997 | DAVID HOLLEY, TIMES STAFF WRITER
South Korea and the International Monetary Fund put the finishing touches Wednesday on a rescue plan of at least $55 billion that is likely to double the nation's unemployment and slam the brakes on economic growth to the slowest pace in 18 years. The conditions attached to the bailout, the largest ever, also call for South Korea to liquidate or restructure banks, invite more foreign investment and products, slash government spending and raise taxes.
BUSINESS
January 24, 1998 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
International lenders and South Korean officials on Friday were working out details of a deal to exchange up to $25 billion worth of short-term debt for new loans with longer maturities and government guarantees, banking sources said. Negotiations, being conducted Friday in the second-floor boardroom of Citicorp's Manhattan headquarters, were said to be in the "poker-game stage," in which the parties dickered over interest rates, fees and other loan terms.