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South Vietnam faces sinking reserves and high prices
South Vietnam's foreign exchange reserves have fallen sharply, with prices rising and unemployment high. Economists flag reduced U.S. aid and imports as key drivers, while officials consider austerity measures. Thieu cites promised aid, but actual funds hinge on Congress. Reserves could dip to about 80 million by year end, risking devaluation and inflation. exports rise but not enough to fix the payment imbalance.
MENTIONED IN THIS ARTICLE
Joseph B. Treaster
Saigon
South Vietnam
Nyt
United States
Thevre
Nixon
Nguyen van Thieu
White House
San Clemente
Thieu
United States Mission
United States Congress