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2The Daily Tar HeelMonday, October 24, 1983
Professor says IMF will default without more money
By DENNIS DOWDY
Unless more money is raised for the In
ternational Monetary Fund, the fund will
default this spring, said Stanley Black,
visiting professor in the UNC department
Black spoke of the functions and
future of the IMF at a discussion spon
sored by the Campus Y Global Issues
Committee last week.
Over the past few years, use of IMF
services has grown because of the reces
sion. Since 1981, world trade has de
clined; and as a result, international bank
lending slowed down. Unable to receive
any help from banks, developing coun
tries have been turning to rfc imp for
. assistance. Developed nations have had
to increase the amount of money they put
into the fund to make up for the in
The IMF has a little over $10 billion
available for needy countries, which is
not enough to keep the fund afloat with
out an increase.
The attempt to raise more money for
the fund has faced much criticism. One is
that a country often uses IMF money to
pay back the banks, or "bail out the
banks," Black said. He added that al
though countries did use the money to
pay the banks, "the IMF has never lost
any money, except maybe from Cuba and
Poland, who dropped out of membership
and possibly did not settle up all their
funds." . -
3C2E2G TTCOG (SOOT
BROADWAY ON TOUR BEGINS WITH:
Friday and Saturday, November 4 and 5
Tickets on sale at Union Box Office 962-1449.
Wednesday, October 26
3:30-5:00 in Toy Lounge
(4th Floor Dey Hall)
Served with piping hot Baked Potato or homemade French
Fries and Texas Toast.
324 East Rosemary St.
1714 East Holloway St.
Wellons Village, Durham
A second criticism is that some coun
tries feel that the conditions placed on the
IMPs upper-credit loans are too harsh.
The IMF often sets restrictions on a coun
try that it feels would correct the country's
monetary faults, and country must follow
the agreements or their loan would be cut
off. For example, the IMF ordered
Jamaica to cut back in wages and increase
their food prices in order to get assis
tance. Sen. Jesse Helms, R-N.C, and the Re
publican National Campaign Committee
have also argued that the increase would
be made up by taxpayers. Black said tax
payers would have to make up $20 mil
lion, but the United States would suffer
worse if indebted countries cut off their
imports because of their monetary prob
lems. "Developing countries are our trading
partners. What affects them will have an
effect on us," Black added. ;
The main function of the IMF is to
lend money to countries in debt who are
members of the organization.
It was founded in 1944 to promote in
ternational monetary co-operation and
balance world trade by adjusting ex
change rates. The IMF is composed of a
board of governors from each of the 144
member nations, a 22-member executive
board and an interim committee that
supervise the IMF system. Jacques
LaRossier, of France, is the managing
Wake up to a cup
f coffee and
The Daily Tar Heel
Public Art in New York City
Presentation to be given by Lila Clerk
Oct. 25 5 pm-6 pm film auditorium
Reception following presentation
Oct. 25 Union Gallery.
TWO DEALS FROM
FOISTER'S AND KODAK
rsro'' i. slip.
133 E. Franklin Downtown Chapel Hill
The Associated Press
Nearly a half million demonstrators
poured through the streets of Brussels,
Madrid and Paris on Sunday in the sec
ond day of Western European protests
against deployment of new U.S.
' Anti-missile campaigners hailed the
Weekend turnout of more than one and
a half million people as a clear sign of
widespread opposition to the impend
ing deployment of 572 Pershing II and
There were no reports of arrests or
violence Sunday. On Saturday, when
more than a million Western Euro
peans sat-in, formed human chains and
marched, West German police arrested
In Brussels, marchers converged in
three columns on the city center in the
biggest anti-missile protest ever in
Belgium. There was no official count,
but policemen said the crowd was
much larger than the turnout of
200,000 in an October 1981 demonstra
tion. Organizers estimated the number
Sunday at 300,000.
AUGUSTA, Ga. The bearded out
doorsman who crashed the gate of the
Augusta National Golf Club, took five
hostages and demanded to speak to
President Reagan had been hospi
talized in the past for alcoholism, a
doctor said Sunday.
Charles R. Harris also was despon
dent over the loss of his job and recent
death of his father, friends said.
Harris, 45, remained under observa
tion Sunday at Augusta's University
Hospital as federal and local officials
prepared charges against him.
Harris rammed a gate at the pres
tigious club with a pickup truck Satur
day and took two White House aides
and three others hostage, officials said.
He demanded to speak with Reagan,
who was vacationing at the club and
was on the 16th fairway.
Reagan called Harris five or six times
but Harris hung up on the president,
apparently because he wanted to speak
to him in person, said Richmond
County Sheriff J.B. Dykes.
HOLLYWOOD, Fla. Former
Gov. Reubin Askew won a crucial
home state presidential straw poll at the
Florida Democratic State Convention
on Sunday, picking up 45 percent of
Askew had said a defeat would have
ruined his dark-horse candidacy for the
White House in 1984.
It was the same forum where former
President Jimmy Carter of neighboring
Georgia first drew national attention in
his successful quest for the Democratic
nomination eight years ago.
But taking some of the luster off
Askew's victory was a poll of 585
Democratic voters across the state by
three Florida newspaper that showed
Askew trailing former Vice President
Walter Mondale by 32 percent to 26
percent. Ohio Sen. John Glenn re
ceived 19 percent in the newspaper poll.
In the convention vote, Mondale was
second with 35 percent and Glenn third
with 17 percent. The vote totals were:
Askew 1,053, Mondale 823, Glenn 410,
California Sen. Alan Cranston 24,
former South Dakota Sen. George
McGovern 12, and South Carolina
Sen. Ernest Hollings 3.
Cranston and Hollings did not at
tend the Florida convention.
RALEIGH Lt. Gov. Jimmy
Green is being tried under a state
bribery law that is too vague, defense
attorneys and legal observers say.
Alan D. Briggs, the general counsel
of the N.C. Academy of Trial Lawyers,
said lawyers asked to review the statute
in light of the charges against Green
have called the law "loose, open and
"Judging from the comments we're
getting, there's an awful lot of criticism
about how poorly the statute's
written," Briggs said. "I frankly think
it's fortunate that we have a group of
people looking at these questions, in
light of the situation."
Sandwiches . . . Salads
TIRED OF STYROFOOD?
Tickle your tummy with a fresh Subway sandwich!
967-5400 Franklin Center Mall, Downtown
F The School of Publi&Health
Living With Risk in a
William D. Ruckelshaus
Administrator, Environmental Protection Agency
Tuesday, October 25, 1983
Memorial Hall - UNC
Co-Sponsored by the
School of Public Health Alumni Association
A question and answer period will follow
All ads must be prepaid. Deadline: Classified ad must be
received by 12 (noon) one business day before publication.
Display classified ads must be received by 12 (noon) two
business days before publication.
Classified ad may be placed at the DTH office or mailed to
the DTH Carolina Union 065A, Chapel Hill, NC 27514.
Return ad and check of money order to the DTH
office by noon the business day before your ad is to
run. Ads must be prepaid.
Rates: 25 words or less
5C for each additional word
$1.00 more for boxed ad or boldface type
Please notify the DTH office immediately if there are
mistakes In your ad. We will be responsible for only
the first ad run.
THE YOGA PLACE. 452 W. Franklin St.. will begin
new classes the week of Oct 24. For information about
Yoga and our 8 classes, call 967-9686. If s a question of
WANTED: CONSCIENTIOUS WOMAN TO provide part
time care and fun for our lix-month-old. Hours negotiable.
Need own transportation. Call 933-8259.
SMOKERS! THE EPA NEEDS Ut
18-40, for study invoivteg 2 visits, 1-lVi hour
oa the UNC campus. $15 coajpensarJoa. Call
966-1253. Moaday-Frlday, 8 aa-5 pa.
FORGET-ME-NOT CHRISTMAS Crafts Fair. A dis
tinctive crafts collection. Basketry. English Smocking.
Quilting. Wood Art, Children's Toys and Clothes.
Weaving. Sat, Oct 22 10 am-7 pm and Sun., Oct. 23 1
pm-5 pm. Community Church Purefoy Rd.
BLACK MALES aV FEMALES - $45 will b paid
to healthy aoa-easokers, age 18-35, who com
plete ao EPA breath lag study oa the UNC caat
paa. For atore Info please caB 966-1253. Moaday-Friday
8 aas-5 pas.
MODELING OPPORTUNITY. WOMEN LOOKING good in
swimsuits needed for regional photo, tradeshow modeling.
Good pay. Part-time, flexible hours. Experience unnecessary
but helpful. Call 214692-1440.
MORRISON CONTRACT FOR SALE (female) wonderful,
roommate and suitemates. Call Avis 933-3262.
CRAIGE CONTRACT FOR SALE: Male grad. Available im
mediately. 933-6302 or 933-7051 Dean, evenings.
CRAIGE HALL CONTRACT FOR sale immediately. Call
1981 YAMAHA 400 FOR sale. Excellent condition. 7.500
miles. Also comes with a hondaline full face helmet. $975.
lost and found
HANDYMAN: 2 DAYSWK (6 hrs. total) for light carpen
try, yd. wk., errands. Car required. Hours flexible. Rate
negotiable according to skills. Call 929-7529.
IBM-PC: NEED PERSON to set up hand disk, solor printer
interface problems, install programs (luts 123 etc) Experi
ence necessary. Rate negotiable call 929-7529.
AMITY LSATGMATMCATGRE Seminars. Our guaran
tee: Score in top 25 or take the next course free. Call toll
free 800 243-4767 for schedule and free brochure.
FEMALE GRADUATE STUDENT ROOMMATE wanted for
Immediate occupancy. 1 bdrm, private bath Plnegate Apart
ments rent $180.month Vi utilities, Oct. rent free. Call
FEMALE ROOMMATE NEEDED TO share three bedroom
Bolimvood Apt. beginning Nov. 1st! Share large master
bedroom with private bath and phone. 195month plus Vi
utilitiescable. Call 942-8036.
WE NEED A NON-SMOKING female to share large bed
room in nearby apartment. Nov. 11 occupancy.' 1125 In
cludes utilities. Can 933-5733 or 933-5744.
NEED A PART-TIME JOB?
may have a job for you.
SPTES offers a free service
to students both graduates
We have job listings for a
number of on and off-campus
jobs in a variety of categories.
Stop by the SPTES office,
Suite D Carolina Union any
time Monday-Thursday from
FOUND-ONE LADIES NECKLACE on Oct 10 on
Cameron Ave. Call Sandra 962-1120.
HELP! MY WALLET WAS stolen Frl. around 11:30 am. It
has all my ids., membership cards, pic, etc. Keep S but
please return my identity. It's tan leather. CaB Cheryl Hales
ROCK CRYSTAL, CYLINDRICAL, 2xVk. At Talking
Heads, on the floor. Probably not worth money, but sen
timental value? if you know anything, call Peter, evenings.
ASTHMA SUFFERERS - EARN 75 fa aa EPA
Breath lag Stady oa the UNC caatpos. To qaattfy
yoa amst be saaie. 18-35. with otrreatly active
aethssa. For asore lalorsaaHoa please caB 966-12S3.lateatday-IMday.aV5.
ABORTION TO 18 WEEKS. Private and confidential
GYN facility with Saturday and evening appointments
available. Pain medication given. Free Pregnancy Tests.
FURNISHED ROOM TO SUBLET ki 3-br Carrboro apt.
November and December. Washer, cable. S95 'A utilities
monthly. 942-2605 or 929-5109 after 2:30 pm. Ask for
OVERSEAS JOBS SUMMERYEAR round. Europe. S.
Amer.. Australia. Asia. All Fields. 50O-$1200 monthly.
Sightseeing. Free info. Write IJC Box 52-NC-l Corona Del
Mar. CA 92625.
HAPPY BIRTHDAY? TIRED OF baUooae. cookie
Bonetere, or flowers? Have the Oefaaagers
wish it for yoa atasicaily. S15.0 oa casapaa.
$20.00 off caaipas. CaB 967-7352.
D.J. FOR PARTIES, REUNIONS, weddings, dances, plg
pickin's. Excellent references & experience fiver 25,000
records & 300 parties since 1975 Jimmy Pharr 469-2594.
CHILD ABUSE WILL ENSUE if I do not find two Clemson
tickets for Mom nd Dad! Please help! Call Steve: 933-9134
after 7:00 p.m.
NEED TWO GUEST PASSES or tickets for Clemson game
lor friends coming all the way from NY. Call Janice after
7:00 pm at 967-9462. Thanks!
The Curriculum for Dental
Hygiene wilfhave an OPEN
HQUSE on' Wednesday
October 26 from 11:00 am-
2&)0. 1 All interested stu-p
dents are inviied to" comer
rriet with faculty and stug
dents and- tour the Dental
School. For more info:
m vim Graft
Q: What is one of the cheapest
and most firmly comfortaDie
A: Th Pm-I-ov--
Q: What mattress also folds into
a sofa to sit, read and relax on?
Q: Where can you go to get
a locally made quality
h A- a
"Helping you think it
Free Pregnancy Testing and Counseling
Treatment of Sexually
Annua! GYN ExaminationJ
Fees Based on Income
V r-i of orange county
101 v lung St.
HAPPY BIRTHDAY TO THE little girl from Stem! We love
ya, Robbin! Ellen, Judy, Missy, Monica, Anne Marie,
HEY BAND SQUAD 22 Tamara and Esp. REN EE Thanx
for a super B-Day it will be one which I will always remem
ber. Thanx Phil Roactt.
SUSAN-HAPPY ANNIVERSARY HONEY! Thanks for a
great beach trip this weekend. It topped off a terrific year. I'm
looking forward to many more. I Love You. . .BUNCHES II
TEO LITTLE SISTER RUSH begins 9r00 Taeaday.
1025 with a wtaa and cheese party at the aoese
(216 E. Rosemary). For asore Informatioa, call
X-6 HAD A BLAST! How much, sex, love, and passion can
we fit into one weekend. I Love Youtl 4446D.
WHO'S OUR FAITHFUL "BUDMAN"? Who wears the nvat
tasirful turtlenecks In town? Who keeps florists In their
place? Stewme! Moo, arf. olnk. We love vou!
.WHO HAS N.Y. STYLE
m t -r 'V a a -a lir m- il ae
4 it AND
?! y of course! H