Peter Kilborn, “Administration Seeking to Explain Debt Plan,” The New York Times, March 15, 1989.

 

            The Bush Administration increased its attempts to alleviate the problem alleviating the debt problem and to answer critics that claim the developing country policy lacked substance.  Mulford, the Undersecretary of the Treasury, agreed to speak to Congress about the “ideas and suggestions” that Treasury Secretary, Brady, presented earlier.  Mulford is also scheduled to speak in Amsterdam to the Inter-American Development Bank, which specializes in loaning money to Latin America, to negotiate new debt agreements.

            The Treasury’s aim is to decrease the countries’ debt by lending them money in order to stimulate their economies.  Although the President has been reported to agree with the reduction of third world debt, he does not necessarily agree with the details that Mulford proposes. 

 

~Jean Miaw