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1 Business Wednesday. November 20. 1985 5 ' * m THE GAMECOCK Symposium growing deb > developing ( Bv MARISA J. PORTO Buwnets editor Economic and financial problems in the Western Hemisphere were discussed at a symposium at USC Friday. The growing burden of debt experienced by developing countries in the 1980s was a key element in the discussions, which focused on continuing efforts to manage the international debt. J The symposium included Jacques de Larosiere, managing director of the International Monetary Fund; Edward Seaga, prime minister of Jamaica; and William Brock, U.S. Secretary of Labor. Charles Dallara, U.S. executive director for the International Monetary Fund; Ernest Stern, senior vice president of the World Bank; and Richard McCormack, U.S. ambassador to P the Organization of American States, also participated in the symposium. The banquet, which wrapped up the conference, ended with a speech by de Larosiere that emnhflsi7ed the nrnhlems fnrino the world economy and debtor countries and possible solutions to the problems. Latin America has been and will continue to be at the center p of the debt problem because of the size and structure of its external debts, he said. "A durable and cooperative solution to the debt problem is possible, but it requires that we meet three major challenges head on: combining growth with continuing adjustment in the indebted countries, strengthening the ^ global economic environment., W and assuring adequate finaoc-, ing," de Larosiere said. Debt problems erupting in Latin America in 1982 were causfti Hii inannrnnriaf^ ^ W/ ???cp|/. V|/. 1.V...VW..W / f HM Mi Got the Dorm Food Blues? One call to ; Domino's Pizza will 8 youl We make and d< not, lasiy, cusiom-me pizza in less than 30 minutes, or we'll tak $3.00 OFF th? prtci | All you have to do is | So skip the cafeteria relax. Let Domino's F deliver nutritious & delicious pizza. r1 d I ? > " i 1 if L. I ii-; {J, i* addresses it among :ountries policies, adverse developments in the world economy, the terms and availability of external financing and fallacies in economic thinking, he said. To achieve external adjustment and growth, debtor countries must increase exports, savings and private investment, but this could not be accomplished if these countries did not maintain incentives, he said. "Policy reform in indebted countries, however necessary, cannot do the job itself," de Larosiere said. "The global economic environment must be strengthened so that more outward-lookine Dolicics do not merely subject developing countries to larger external risks. For this, the industrial countries bear the main responsibility because of their weight in the world economy." Budget deficits and public spending cuts, reduction of structural rigidities, monetary discipline and protectionism must be resisted to strengthen the economic environment. To assure adequate financing, commercial banks will have to provide new money and restructuring on realistic terms to debtor countries making forceful adjustment efforts. "Official financing, particularly official development assistance, plays an important role in helping to meet the financing needs of countries with as yet limited access to commerical credit," he said. "For them, these funds act not only as a shock absorber against unfore. and external , d^wkajvtts, .but -.aJlso provide valuable breathing space to begin the necessary broadening of their production structures. For these reasons, the stagnation in official wIVAl - W4- V >.*" '' **'#? '*' >. *? ^.v*'' > ?/) . jy4;V';': t1 I':*,' . ? V.i ,i '<< -. ' - :*/ '?'' *'" Serving U8C A BwrouffdJng Armmi sliver 256-8151 1 ide 1124 Devlne St. B liOiHti ?? 11AM-2AM Sun.-Thurs. 11AM-3AM Fri. & Sat calll and 'izza Order your lav I HI P*zza with TW Ar non-returnable ^p*gHi| of Coke* and; urrs One coupon p Offer good thru Ortwc?iT?uwd>r>aaei??5Doiw>f gjg^P j> S K -,' ?d?~ZLTM^ ^ k *' l' - ^jjjj ? Jacques de Laroaiere c Managing Director, > International Monetary Fund i assistance cannot be allowed to | continue." 1 The World Bank group and the ( IMF should cooperate to draw ' long-term programs for ap- ' propriate adjustment strategies, he said. "Finally, because so much 1 scope for growth and adjustment in indebted countries is condi tioned by the policies of the industrial countries," he said, "the IMF will continue to work toward making its surveillance more effective and symmetrical. "Widespread support was expressed in Korea for this objective, as well as for the commmitments and intentions stated by the five major industrial countries following their meeting in New York on Sept. 22 to strengthen their cooperation, in order to achieve a better pattern of exchange rates and to promote adjustment." De Larosiere said debtor and creditor countries have managed to avert grim scenarios so popular at the onset of the debt crisis. "But by no means is this enough," he said. "We are now facing the task not only of preserving these hard won gains, but also of sustaining and strengthening the economic recovery in both the developing and industrial world. As in the past, the challenges are formidable. Nevertheless, by resisting the rising tide , of protectionism, by implementing the right macroeconomic and structural policies and by assuring adequate financial flows, the job can be done." JOT a ^ ?&f*t # DOMINO'S PIZZA DELIVERS? Wm FREE. 1 orite 12" I 0 16oz. ; 1 bottles I /ou'll get J' prfcmi i er pizza I 10/28/85. has 8 1 2-3 i I ....J I */ PilW If*. Students' at the Pei ly PAULA WETHINGTON ?.<i hum wiutn One of the most unique jobs ivailable for collcgc students iround Columbia is being a :ustomer service representative vith a national airline. About 14 college students, nost of them from USC, work ?art-time with People's Express n Columbia as part of a "model :ity" operation, according to Maureen Sullivan, People's Express station manager. "In January and February, we started this idea (of) a People's Express University to share our expertise with college students," Sullivan said. 111 1 a! j a. worKing pari umc, muucihs can apply their experience toward a master's degree in three years, Sullivan said. People's Express is trying to develop an accredited master's program with such universities as Harvard and Yale, she said. Student customer service reps check in customers and their bags; they also are responsible for information about connecting flights if others have been delayed or canceled. One of the reps, Helene Col ! : ^ - j email, is a senior music cuucauui major at USC; she started work ing at People's Express last Maj by answering an advertisement ir The Gamecock. This summer she was one of only five student: working in the Columbia office but by summer's end six mor< had been hired, Coleman said. "We do the same stuff as ; manager," she said. "Any pro blems that come up, wc have t< be there to answer questions." When she was hired, Colemai worked for a short time at th desk before a week of classroor training, where the students wer expected to learn codes for th Wl ASF THEVR "If there's one thin] like Food Lion. Wli In my house, i Since I can't do tha Food Lton's been tellir "Delhaize Le Lion" of Belgii Board of Directors. Why is Food Lion asli Maybe tfs because D tional rules of conduct for r Cooperation, to which botf employment and industria ers in the host country." In r workers wages and benef Maybe Delhaize/Foo workers. So listen to Mama, ar Donl let Food Lion inr Listen to Raid for by the proud a! careers taki iple Express ) USC psychology senior Susan Penn escorts old son Joseph to the People Express loe f cities serviced by People's Ex) press, as well as the airline's rules st and regulations. ei s Coleman thinks customers bi , don't realize the employees are m 2 mostly college students. She says they're complimented many ic a times by customers and that the rr airline headquarters in Newark, a 3 N.J., has been impressed with p their work. a n Sullivan said the students soon ti e will be able to work as flight at- s; n tendants, as managers are able to e fill in for these positions if vacan- f te cies occur. ? /<. i> 'iJ... i i... * : : IY IS FOOD LI IAMED TO AE E FOREIGN-C g I can't stand, it's people who ca ry, they seem ashamed to admit tl Alien Eunice would tell a fib, 1U it with Food Lion, I'm just not gc ig the public it's not foreign-owned, but their 1S um actually controls 50.8 percent of Food Lion iamed to admit it's foreign-owned? elhaize/Food Lion's treatment of its American \ nuftinational corporations. The International Or i the U.S. and Belgium belong, requires foreigi I relations not less favorable than those observ Tiany American communities in which it opera its far inferior to those paid by other food store! d Lion is ashamed that it treats its Belgium woi id don't shop at Food Lion. iport an inferior standard of living to our count! Mama. Don't shop at Americans who are members of the United Food i ng off office r' . $ ||'v Mff.w^tfctf^Bfv 1?Hfl Bffl |m ^ K|^jj|6|tfUg^|^H a I<j |h : j v ? IK .ffiiift JMKl JOSEPH GARNETT/Tht Ganwcock i Catharine Hamilton and her 7 yearding ramp. Through the use of college udents as the major source of mployees, Columbi<y has jcome one of the airline's three todel cities, Sullivan said. "They look forward to our leas," Coleman said. "It's lainly up to us whether the irline works or not. Since Peole's Express is so different from ny other airlines, we have to rain customers to the different ystem." rui wv.ain^iL, aiv paiu or when the customer boards the See "Airline," page 6. ? "f< "< ' ; / . ... , [ON ?Mrr KVVNED? t n't face up to the truth, hey're foreign-owned." 30k her over ray knee. ?lng to shop there." )85 proxy statement says that 's voting stock and half of the workers is contrary to internaganization for Economic n firms to observe "standards of red by the comparable employees, Delhaize/Food Lion pays its 5. rkers better than its American Food Lion. and Commercial Workers.