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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Apr 27, 1978
Page
3
The full House must decide whether to ban Export-Import Bank loan guarantees to South Africa until Carter reports progress toward majority rule. The banking committee approved the provision 28 to 16 as part of a bill to raise subsidized loans for foreign trade to 40 billion.
A civil action filed in federal court accuses Bert Lance, ex budget director and Carter ally, of helping his relatives obtain loans and overdrafts through the National Bank of Georgia Atlanta and First National Bank of Calhoun. The SEC and OCC seek penalties while Lance faces a possible federal grand jury criminal inquiry. Lance’s camp says no personal gain occurred and notes common banking practices.
The United States posted a $2.8 billion trade deficit in March, an improvement from February yet still above last year’s average. Imports of all goods and services reached $13.7 billion, while exports rose from 9.9 to 10.9 billion dollars.
Arkady N. Shevchenko, the top Soviet U.N. diplomat who broke with his government, agreed to terminate his contract with two years left, receiving 76116 in severance. He aims to live in the United States, pursue publishing and speaking opportunities, and has book plans with Alfred A. Knopf.
South Africa accepts the Western settlement for South-West Africa, aiming for a democratic transition to independence by December 31. The move draws Soviet opposition and a potential veto in the UN Security Council, with SWAPO expected to push conditions. Western sponsors defend their final form and backing. In Washington, Cyrus Vance will visit Mexico May 3-5 to discuss drug trafficking illegal immigration and natural gas pricing.
Rebel forces launched an attack against Afghanistan's government in Kabul using tanks and small arms. Fighting centered on the Defense Ministry and the Royal Palace, with Daoud's residence in the crossfire. Bodies were reported in the vicinity as the French Consulate was destroyed by fire.
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