• Short Summary

    The major non-Communist industrial nations, in an attempt to present a united front on questions of energy-related economic problems, signed an agreement on Wednesday (9 April) providing for a 25,000-million-dollar (about 10,000-million-sterling) "safety net" fund as a last resort for those among them suffering serious economic distress.

  • Description

    The major non-Communist industrial nations, in an attempt to present a united front on questions of energy-related economic problems, signed an agreement on Wednesday (9 April) providing for a 25,000-million-dollar (about 10,000-million-sterling) "safety net" fund as a last resort for those among them suffering serious economic distress.

    The agreement -- inspired by U.S. Secretary of State Henry Kissinger and signed by 23 states -- grew out of the oil crisis of the past 18 months.

    It was signed by representatives from all but one of the Organisation of Economic Cooperation and Development's (O.E.C.D.) member states.

    Turkey, the 24th O.E.C.D. member, is expected to sign the pact before the end of May.

    A leading economist, Stephen Harris of the O.E.C.D., said the fund was designed not only to help countries tackle oil-induced balance-of-payments deficits, but also to tide them over other serious economic difficulties.

  • Tags

  • Data

    Film ID:
    VLVABL4ZMOV0K47EB6K95YJJIL2TD
    Media URN:
    VLVABL4ZMOV0K47EB6K95YJJIL2TD
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    10/04/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:06:00
    Time in/Out:
    /
    Canister:
    N/A

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