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BRIEFS
US to donate $XMini surplus corn
WASHINGTON. Sept 17: The United State, will donate 33.8 million dollar worth of i surplus corn for humanitarian I distribution tn Africa. Agrtcul I ture Secretary Edward Madl i C announced Wednesday i
Agriculture Department | said priority would no to Soma I Ha. Kenya and other African i countries where civil strife, drought and refugee needs have strained local food sup ' plies. This donation reaffirms i the United States commit 1 ment to respond to emergency 1 food needs wherever they arise Madigan said. The dona Uon of. about 380.000-Metric tons wlU be available starting 1 October 1. The United States will cover transportation costs. । storage and handling. Dlstribu rion will be coordinated with the US Agency for Interna tlonal Development and the UN World Food programme Some private US organisations may also be Involved, reports AP
Saddam's son slates food price rise
BAGHDAD. Sept 17: Iraqi most outspoken newspaper, published by President Sad dam Hussein s son. criticised the government Wednesday for failing to control soaring food prices and the skyrocketing black-market dollar exchange rate. The rate Tuesday night, the newspaper Babel said, shot up to 47 Iraqi dinars to the US dollar from 42 dinars on Tuesday morning. The official rate is three dollar to the dinar, and the unofficial rate ranged from 18 to 25 over the past few weeks before a sudden Cmp. Because of the two-year N-imposed economic embargo. Iraqis are suffering acute shortages of food and medicine. The prices of all goods and services have increased dramatically, reports AP.
Industrial output in US falls as per cent In August, the gov eminent said Wednesday, due in part to the effects of Hurricane Andrew and a strike ut a General Motors parts plant. But excluding the storm and the strike, output at the nation's factories, mines and utilities still dropped, the Federal Reserve said tn the latest report suggesting the manufacturing engine that once drove the economy had lost its steam. "Hurricane Andrew ... disrupted output of several major industries, particularly oil and gas extraction, petroleum refining and petrochemicals.’ the Fed report said. "Effects of the storm reduced Industrial production by a little more than 0.1 per cent in August, reports AP.
Aid shipment to Mozambique stolen
MAPUTO (Mazambique). Sept 17: Shipments of food aid in several areas of Mozambique have been stolen or destroyed, the AIM national news agency reported Wednesday. It said criminals have stolen food In different regions for later resale, while anti-government rebels destroyed five trucks in a convoy In central Zambezta Province. Already ravaged by a 15-year-old civil war. the southeast African nation has been further wracked by the region’s worst drought in a century. More than 3 million people are believed to face starvation without donated food Government and rebel negotiators are trying to reach agreement on a ceasefire before an October I deadline set In previous negotiations in Rome, reports AP.
Sweden to raise interest rate
STOCKHOLM. Sept 17: The central bank said Wednesday It would raise the marginal Interest rate to u record 500 per cent, the second Increase In 24 hours as the bank struggled to prop up the value of the krona after a large capital outflow. The 500 per cent rate would take effect Thursday morning. the Riksbank said In an announcement Just after the stock market had closed It said a 75 per cent Increase announced Wednesday morning was not enough to keep money .from flooding out of the country chasing stronger cur reticles such as the German mark. Prime Minister Carl Bildt called a crisis meeting with all opposition party lead ers. Several Cabinet members cancelled trips to attend the meeting. Ingvar Carlsson, leader of the biggest opposition party. the Social Democrats, flew home from a meeting of the Socialist Inter national Germany, reports AP.