SOUTH KOREA: DEVELOPING NATIONS TOLD TO RESTORE ECONOMIC HEALTH.

Record ID: 343037

  • Title: SOUTH KOREA: DEVELOPING NATIONS TOLD TO RESTORE ECONOMIC HEALTH.
  • Date: 9th October 1985
  • Summary: 1. GV & TILT DOWN EXTERIOR Seoul Hilton with IMF meeting sign. (2 SHOTS) 0.05 2. GV & SVs Delegates inside meeting, Japan, China, Australia, Canada, West Germany and Brazil. (7 SHOTS) 0.35 3. GV Delegates applaud as President Chun Doo Hwan of South Korea walks up to rostrum. 0.48 4. CU & SV Chun speaking as delegates listen. (SOT) (3 SHOTS) 1.04 5. SV PULL BACK TO GV
  • Embargoed: 24th October 1985 13:00
  • Keywords:
  • Location: SEOUL, SOUTH KOREA
  • Topics: General
  • Reuters ID: LVA291JYRS5QJHB2MY44G0M5Y4KG
  • Story Text: SEOUL, SOUTH KOREA

    The annual meeting of the World Bank and the International Monetary Fund (IMF) opened in Seoul on October 8 with an appeal to debtor nations to make a commitment to restoring economic health. The call was made by US Treasury Secretary James Baker, who said that in return for a demonstration of putting their economic houses in order, developing nations would qualify for more than 20 billion US dollars allocated by international bankers. Baker stressed that only those nations that displayed their resolve to curb inflation and government spending would qualify for the loans, which will be handed out over the next three years. The debtor nations have been strongly criticised for their failure to restore economic health. Some 3,800 delegates from 148 member countries are attending the four-day financial summit, which was officially opened by South Korean President Chun Doo Hwan.

    <strong>Source: REUTERS - KIMIAKI TANAKA</strong>
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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