Augu S | The Battalion
ces
& NATION
13
Monday, August 28, 1989
„ er anks say Third World countries
ill owe $5 billion in interest in ’89
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°de on it,
t‘d that J
Camero-taVASHINGTON (AP) - Major Third World
in non Raj countries are expected to fall nearly another $5
s pendij billion behind in interest payments to U.S. and
fames at other banks this year, but, unlike individual debt-
e ville,at( ors, there’s no car to repossess and no home to
'thillsof|| foreclose on.
^■sovereign governments do not allow foreign
ather, R, bankers to seize the property of their citizens, al-
dishes ii]H>ugh sometimes lenders are allowed to buy up
ideo ga® pieces of it in debt-equity swaps.
weni fflFifteen countries singled out by the United
But Cant States for special help will fall behind by another
m not to $4,868 billion in their interest payments this
they k f year raising their arrears to a record $15,079 bil-
ily went h° a > according to the banks which are owed the
i testified, money._
hooting,:llBrazil, Argentina and Mexico owe the most,
playin; according to figures on the 15 major debtors
s gave compiled by the Institute of International Fi
ned ne\t nance > a group of the leading lending banks, and
'rate stepiM
■is dectti
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n cabinet,
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made available to the Associated Press last week.
Bankers know them as “the Baker 15” after
Secretary of State James A. Baker III, who made
up the list in 1985 when he was secretary of the
Treasury. Most are in Latin America, but the list
also includes Nigeria, the Philippines and Yugo
slavia.
By the end of 1990, the 15 countries will owe
about $524 billion to lending banks and govern
ments, with nearly another $50 billion in interest
payments falling due. Most have not paid any
thing on the principal of their debt since the cri
sis began in 1982.
Christian Barrett, an economist at the insti
tute, said falling behind on servicing the debt is a
conscious policy of Third World government
leaders.
“Their governments need capital, and that’s
the way they decide to get it,” Barrett said. “But
it’s a policy that discourages new lending from
abroad and discourages their own citizens from
bringing home the money they’ve sent abroad.”
More money has been leaving Third World
countries than has arrived in them this decade.
Leaders of the debtor countries complain that
the net outflow — about $30 billion last year — is
unnatural and a major cause of their declining
standards of living through the 1980s.
“Poverty has increased because of debt,” said
Finance Minister Bernard Chidzero of Zim
babwe, whose country owes a modest $2.5 billion.
“Malnutrition has increased as a result of more
money going into debt service,” Chidzero said.
“There is a decline in social services, because they
cannot be maintained because people want to
service debt. And I think that is an untenable sit
uation.”
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Ice volcanoes
seen on moon
pf Neptune
■ PASADENA, Calif. (AP) —
■oyager 2’s close-up photos of
Ileptune’s moon Triton reveal
■hat appear to be active ice volca-
loes that erupt explosively, spew-
lig nitrogen ice particles and gas
Biore than a mile high, a scientist
aid Sunday.
“I believe they are active,” or
Jrupted at least within the past
|00 years, said U.S. Geological
1 J_, ■iirvey geologist Larry Soderb-
1(1 V R)m, a member of the Voyager
J Bhotographic imaging team at
ASA’s Jet Propulsion Labo-
jjatory. “There’s 10 or 20 or 30 —
lots.”
“This is a crazy idea, but it’s
irobably the best we have at the
time” to explain the pockmarked
found# rr ain, he added.
Soderblom compared the new
ype of ice volcanoes with sulfur-
pewing volcanoes on Jupiter’s
loon lo, but said the volcanoes
n Triton are produced when un-
lerground liquid nitrogen rises to
he surface, where “it’s got to ex
plode and will shower ice parti-
les and gas. 7, ■ ' •vt.HKI • :
Based on dark-colored, plume-
haped deposits that stretch up to
0 miles from the volcanoes, So-
lerblom estimated the eruptions
ject debris at scores of mile per
hour, perhaps faster, sending it
erhaps 1 ’A miles skyward.
If Soderblom is right, Triton
vould be only the third object in
seeing s °l ar system known to have
ictive volcanism. lo and Earth are
he others.
Close-up photos of Triton also
how more details of another type
if volcano identified last week:
road, flat craters called calderas.
al problf
identsof
Walesa: Poland will collapse
%
if standards do not improve
WARSAW, Poland (AP) — Solida
rity leader Lech Walesa said Sunday
that the nation’s historic political and
economic reforms will collapse un
less Poles’ living standards improve
within six months to a year.
“Society’s patience has its limits,”
Walesa said in a telephone interview.
“It is so bad that if there is no visible
effect (of reform) in half-a-year to a
year then everything will collapse.
“In my opinion they (Poles) will
not stand any more of it,” he said.
He said another wave of strikes
could result, or society could lose
confidence in the Solidarity labor
movement’s ability to initiate
change.
Walesa said he issued the same
warning during a meeting in Gdansk
on Sunday with Norbert Bluem,
West Germany’s labor and social af
fairs minister.
The new Solidarity-led govern
ment of Prime Minister Tadeusz
Mazowiecki, the first non-Commu-
nist leader of a Soviet bloc nation,
has been urging Western nations to
increase economic investment in Po
land.
Walesa met Saturday with Senate
Minority Leader Robert Dole, R-
NRA supporters fear
gun lobbyists’ attitudes
hurt progress of group
WASHINGTON (AP) — Some of
the National Rifle Association’s best
friends are worried that the gun
lobby may be shooting itself in the
foot.
A conservative editor and activist
says NRA absolutism has kept it
from cooperating with some of its
natural allies, among them conserva
tive groups, police organizations
and, in some cases, Republicans.
Patrick B. McGuigan, writing in
Policy Review, a journal published
by the conservative Heritage Foun
dation, says that has cut into NRA
political clout and put the organiza
tion on the defensive.
“Many of the NRA’? current diffi
culties are the result of self-inflicted
wounds,” he writes.
“During the past few years, the or
ganization has refused to play coali
tion politics with its natural allies in
the conservative movement includ
ing, most especially, elements of or
ganized law enforcement.
“A go-it-alone approach and a re
fusal to compromise on less than
critical issues is jeopardizing the
NRA’s effectiveness in winning po
litical support on those issues that it
considers most important.”
BEIJING (AP) — Security forces
will begin stopping people on the
streets and checking their identifica
tion papers in a new effort to round
up alleged dissidents, the official
Beijing Daily said Sunday.
Starting Friday, residents must
carry identification papers whenever
they leave home “to be prepared for
examination,” the paper said. Driv
ers licenses also will be examined.
“Counter-revolutionary elements
have not been thoroughly cleaned
up and motor vehicles often are
used as tools of crimes,” the paper
said. “Therefore the martial law
troops and police must, according to
the law, stengthen inspections of
motor vehicles and drivers.”
The order runs counter to a re
cent, although gradual, lessening of
the security presence on streets of
the capital since the June 3-4 mili
tary crackdown on pro-democracy
protesters.
Martial law imposed May 20 re
mains in effect, but most army
checkpoints on city streets have been
removed.
18, 19 & 20 year olds
admitted every night
Kail Of
TONIGHT-August 28
Back To School Dance
sponsored by The Hall of Fame and Class of '90
Featuring Texas Unlimited
Sept 2
Lorrie Morgan Show & Dance
advance tickets $10.00 per person must
purchase 4 or more for reservations
$3.00
cover
Sept 9
Larry Boone Show & Dance
advance tickets $7.00
$9.00 at the door
ance.i
rrouf'’
W
byau ; \
be in' 1
Iker,.' 1
Every Tuesday
open 7:00-midnight $5.00 Cover
7 _ _ Free Bar Drinks
■ 1 U p.m. Free Draft Beer
Thursday:
Admission $3.00
Longnecks $1.00
Margaritas $1.00 Single Shot Drinks $1.00
Get $1.00 of cover w/valid ID and student I.D.
Every Friday:
open 8:00-1:00 $5.00 cover
_ _ _ Free Draft Beer
8-11 p.m. Free Bar Drinks
Every Saturday: Aggies $2.00
with student ID
Longnecks $1.00
Margaritas $1.00
Single Shot Drinks $1.00
822-2222
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Kansas, and his wife, Labor Secre
tary Elizabeth Dole, and gave them a
letter for President Bush seeking
more U.S. economic aid than the
$119 million already promised.
Chinese soldiers
to check citizens
for I.D. papers
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