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Changes Sought in Economic Policies

The United States will oppose any loan to Nicaragua by the World Bank or Inter-American Development Bank until the Sandinista government makes major changes in its domestic economic policies, the Treasury official responsible for U.S. votes in the banks said yesterday.James Conrow, director of the Treasury's Office of Multilateral Banks, said the United States would vote against such loans unless the revolutionary Sandinista government takes steps.

Reports Call 3rd World Debt Crisis Severe Former World Bank President Robert S. McNamara says the cash crisis in the debt-laden developing countries is greater than projected a year ago, but he is more optimistic now that the world's debt problems can be solved.And in a separate report released today, the Inter-American Development Bank said high unemployment and recession in Latin America could lead to social and political unrest if governments do not try to share more equally the burden of the economic crisis.

Officials Resist Increase In Poor Nation Loans Reagan administration officials are offering strong resistance to a proposal by the World Bank for an increase from $12 billion to $16 billion for its subsidized lending program for poor nations, suggesting instead a slash to as low as $9 billion.These loans would be made by the bank's soft-loan affiliate, the International Development Association, for a three-year period beginning in mid-1984.

Clausen's Hunt for Money If the truth were to be told, the joint annual meetings of the World Bank and International Monetary Fund are often a time of frustration for the World Bank: Although both dispense huge amounts of money to the less fortunate nations, the IMF often seems to gain and hold the headlines.It is likely to be much the same this year because, as the world debt crisis has proceeded, the IMF has been forced into the lead emergency role, chief fireman, as it were.

PARIS BANK PLANS AGENCY IN MIAMI Banque Nationale de Paris, one of the world's three largest banks, is planning to open an agency in Miami, officials said Tuesday.Wilbert O. Bascom, chief of the Florida Controller Office's Bureau of International Banking, said the French bank has submitted an application with state authorities to start a foreign bank agency in Miami. No major foreign bank has been denied a license to operate in Florida, state officials said.

World Bank's IFC Affiliate Has Record Amount of Loans The World Bank's International Finance Corp. affiliate made a record amount of loans for development projects last year to companies investing in Third World countries.The bank, which released its annual report today, characterized last year as "the most depressing since the 1930s." It said that the disturbing worldwide investment climate has caused many developing countries to start encouraging foreign and domestic private investment.

GEORGES BANK HERRING GONE, REPLACED BY SAND EEL EXPLOSION One of the richest fishing stocks in the world - the herring at Georges Bank - has become commercially extinct in that area, according to US fisheries officials. This disappearance of the herring population has persisted for at least three years, and the herring show no signs of recovering. Instead, says Kenneth Sherman, director of the National Marine Fisheries Service's Narragansett Laboratory, the Georges Bank herring have been quickly replaced.

Distress of Poorest Nations A 'Time Bomb,' Clausen Says The president of the World Bank said yesterday that the "economic distress of the poorest nations is a time bomb ticking away," and he called on wealthier nations for immediate boosts in foreign aid and contributions to international development institutions.Addressing the annual joint meeting of the World Bank and the International Monetary Fund, A. W.

BRITISH OPEN EDGE ACT BANK IN MIAMI Despite weakened economic condition of most Latin American countries, another of the world's largest banks is betting that Miami will remain a lucrative city from which to do business in Latin American.National Bank of North America, a subsidiary of National Westminster Bank of London, celebrated the opening of its Edge Act Corp. office Tuesday. The Edge Act bank is named North America International Bank.

Congress May Tighten Rules The foreign debt crisis of the past several months has created a paradox for bankers and for policy makers who worry about the health of the world banking system: Should banks step up their overseas lending to avoid undermining even further the billions of dollars that they already have at risk? Or should they pull out as quickly as possible from the Third World lending that now seems so risky?

Philadelphia Inquirer, The (PA) - October 2, 1983 IMF BUCKS: WHERE MANY OF THEM STOP IS HERE Prosecutors trying to crack the tough political corruption cases of the last decade used to advise their investigators to "follow the money."That is also a useful way to assess the significance of the 1983 annual meeting of the International Monetary Fund (IMF) and the World Bank, according to regional bankers and finance officials who gathered here for the sessions last week.

Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * A $25.9 million credit was approved by the International Development Association for Mali. The loan will augment a program started in 1976 that has promoted diversification of agricultural products, including fibers and cereals. Diversification of agriculture is desirable in that it may protect economies from the vagarities of climate and world demand.

Washington Post, The (DC) - February 25, 1983 Infusion Seen Meeting Needs Through '83 Mexico has reached agreement with 530 banks around the world on a new $5-billion loan, with $433 million being made available today as a bridge loan, Citibank and Bank of America announced in New York yesterday.The new loan should be enough to carry Mexico through 1983, Jose Angel Gurria, the director general of credit at the Mexican finance ministry, said. Citibank and Bank of America, the largest in the United States, are among lead banks in the arrangement.

ROBERT LENZNER / TAKING STOCK\ RECOVERING LOST WEALTH The world debt problems of American banks are still unfinished business. Some day soon, it is felt, Citicorp and Chase Manhattan will have to bite the bullet on their loans to Brazil, Mexico, Argentina and Venezuela. Bite the bullet a least partly, that is. The financial community recognizes better than the general public that the Brazils and Mexicos of the world cannot repay $70 billion of borrowed funds.

Norman Horsley, Bank Aide, Dies Norman Horsley, 59, a senior operations adviser at the World Bank who had wide experience in Africa, died of cardiopulmonary arrest April 26 at Sibley Memorial Hospital.Mr. Horsley, who lived in Chevy Chase, was born in Nottinghamshire, England. He graduated from the London School of Economics in 1950 and joined the Bank of London and South America Ltd.In 1957, he went to work for the development council of the government of Libya, where he was acting director and chief economist.

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