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U.S. Stance Spikes Meeting on IDA Funds

Talks in Paris on funding the World Bank affiliate that provides subsidized aid for Third World nations were postponed yesterday until January after the United States refused to match pledges from other leading Western countries, World Bank sources said.Representatives of 33 donor countries started the two-day meeting to decide on future funding of the International Development Association (IDA), which is seeking $12 billion over the next three years.

20% Oil Price Rise Forecast by Mid-'90s The price of oil is expected to rise 20 percent above its 1981 peak by the mid-1990s, with the Organization of Petroleum Exporting Countries' cartel continuing to be the main supplier to consuming nations, according to the World Bank.In its sixth annual World Development Report, released today, the bank said that lower oil prices in the past two years had been a major factor in world recovery from recession.

20% INCREASE IN OIL PRICE PREDICTED\ BY HOBART ROWENWASHINGTON POST The price of oil is expected to rise 20 percent above its 1981 peak by the mid-1990s, with the Organization of Petroleum Exporting Countries' cartel continuing to be the main supplier to consuming nations, according to the World Bank. In its sixth annual World Development Report, released yesterday, the bank said that lower oil prices in the last two years had been a major factor in world recovery from recession.

WORRIED BANKERS CUT INTERNATIONAL LENDING Concerned that international loans have become riskier, banks reduced their world lending in 1982 and are cutting again this year, the International Monetary Fund said Monday.Affected by the reductions are loans to poor countries, which use them to help keep up their buying in the United States and other developed countries. More affluent countries are increasingly dependent on this market for business and jobs. The fund, in a new study, said the slowdown was due to heightened

Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * An International Development Association (IDA) credit of 46.4 million special drawing rights ($50 million) to provide additional general and containerized-cargo handling and telecommunications equipment at Rangoon, Burma.* An International Bank for Reconstruction and Development (IBRD) $11 million loan to provide consultants to help the government improve the management of its public finance.

VOLCKER WARNS BANKS ON WORLD DEBT Banks nationwide must support refinancing of Latin America's debt for the Third World's economic recovery to succeed, Federal Reserve Board Chairman Paul A. Volcker said yesterday."Signs of financial stabilization in a number of Latin American countries" are appearing, he told thousands of delegates to the American Bankers Association convention here.

Low Interest Funds at Issue Anxiety is growing in the Indian government over the potential impact on the national economy if the Reagan administration succeeds in holding down International Development Association assistance to poorer countries to $3 billion a year and reduces the U.S. contribution.Coupled with an expected drain on IDA funds by China's emergence as a major recipient of assistance by the World Bank's concessional lending affiliate.

Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * A $10.5 million IBRD loan to fund the new Industrial Credit Fund in Barbados. The ICF will lend money to commercial banks, which will provide industry and the tourism business with credit.* A $9 million loan to the People's Democratic Republic of Yemen to provide farmers with farm machinery and wells for irrigation, as well as fund a flood-control study.Inter-American Development.

MEXICO ASKS ADVANCE ON WORLD BANK LOANS MEXICO CITY -- Mexico has asked the World Bank to hurry disbursement of promised loans to offset losses of as much as $1.4 billion expected as a result of slumping oil prices.President Miguel de la Madrid said he and Finance Minister Jesus Silva Herzog made the request in a meeting Wednesday with World Bank Vice President Nicolas Barletta in Mexico City.De la Madrid said Mexico wants the bank to advance some short-term credit against the $500 million to $700 million in loans.

MEXICO GRANTED LOAN OF $175M The World Bank has granted Mexico a $175 million loan to help small and mid-sized industries threatened by the country's worst economic crisis since the 1930s. A statement from the Treasury Ministry said the loan agreement was signed yesterday by deputy treasury minister Francsico Suarez Davila and the World Bank executive vice president Ernest Stern. In a statement read at the ceremony, Suarez Davila said the latest loan raised to nearly $6 billion the amount.

Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * A total of $190 million in loans from the International Bank for Reconstruction and Development to Yugoslavia. A $120 million loan will be used to improve the reliability and coordination of the country's interconnected power system. Two other loans totaling $70 million will help develop export-oriented industries and create about 10,000 new jobs by providing foreign exchange through two.

Washington Post, The (DC) - June 14, 1983 Report by BIS Warns U.S. of Deficit Risks The Reagan administration must reduce sharply its huge budget deficits, which cause high interest rates, or be saddled with the blame for not only an aborted global recovery, but also a continuing Third World debt problem, the Bank for International Settlements at Basle said yesterday.In its annual report, the BIS--sometimes called "the central banks' central bank"--asserted that high U.S. interest rates are damaging.

FAILED TENN. BANK IS SOLD FOR $34.5M The United American Bank, run by former World's Fair chairman Jake Butcher and ordered closed yesterday due to "large and unusual" loan losses, was sold late last night.The Federal Deposit Insurance Corp. said yesterday it sold Butcher's bank to First Tennessee National Corp. of Memphis, which outbid several other state banks to assume ownership.Steve Woodrough, general counsel for the FDIC in Atlanta, said First Tennessee would pay.

REAGAN ASKS US TO RAISE IMF SUPPORT\ CALLS ON CONGRESS TO APPROVE $8.4B President Ronald Reagan used the forum of the International Monetary Fund and World Bank yesterday to ask Congress to approve an increase in the US financial commitment to the IMF as part of a general boost in the lending agency's reserves negotiated last February. Reagan, addressing the issue personally after months of almost total silence, warned that failure to provide the American share.

Hubert Havlik, Retired Economist, Dies at 79 Dr. Hubert Frank Havlik, 79, a retired economist with the World Bank who had headed its missions to Peru and Chile, died of congestive heart failure Dec. 20 at Fairfax Hospital.Dr. Havlik, who lived in Arlington, was born in Chicago. He earned his bachelor's and master's degrees at Northwestern University and a doctorate in economics at Columbia University.He moved to the Washington area during World War II and was employed by the War Production Board.

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