CONFERENCES: Pomp and Austerity In Manila

Manila is not yet a standard stop on the international convention and curiosity circuit, but it seems to be trying. Two years ago, the Philippine capital played host to the Miss Universe Contest, and last year it had the Ali-Frazier heavyweight title bout. Last week the city rolled out the carpet for 1,500 leaders of international finance and banking who gathered to attend the first annual meeting of the International Monetary Fund and World Bank ever held in Southeast Asia.

Philippine President Ferdinand Marcos spared no expense to pamper his influential guests....