A Prickly Dilemma for the Banks

Financiers meet to hunt for a way out of their Latin debt troubles

The three-day International Monetary Conference held last week in Philadelphia had all the trappings of a gala affair. In the evenings, private bankers and government finance officials from 22 countries sipped champagne at the Philadelphia Museum of Art and sampled Viennese pastries in the gorgeous Longwood Gardens of the Pierre S. du Pont estate. But during the daytime closed-door meetings at the Bellevue Stratford Hotel, the business was serious and the mood sober. Bankers were groping once again for solutions to the Latin American debt dilemma, which was threatening...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!