THE DETROIT JEWISH NEWS
NEWS
Management,
Labor Criticize
Economy Moves
Jerusalem (JTA)
The gov-
ernment's economic policies came
under sharp attack over the
weekend by both trade union and
business leaders and Moshe Man-
delbaum, governor of the Bank of
Israel.
The attacks coincided with the
visit here of an International
Monetary Fund (IMF) delegation
for consultations. The delegation
was greeted with news that the
country's foreign currency re-
serves have dropped by another
$135 million, lowering them
rapidly to the $2 billion "red line,"
the danger point below which the
economy would be in dire peril.
Bank of Israel experts, includ-
ing Mandelbaum, expressed con-
cern this week that the danger
point might be reached by the end
of this month, seven months be-
fore the new American economic
aid package reaches Israel.
The government meanwhile, is
continuing to pump record
amounts of Shekels into the
economy in order to meet its
commitments. So far the Cabinet
has been unable to agree on
further budget cuts and as a result
has been forced to reduce its sup-
port of subsidized products forcing
up their price. It is also raising
taxes and allowing the price of
unsubsidized products to rise.
Those were some of the meas-
ures assailed by Mandelbaum
who heads the nation's central
bank. He said at a press confer-
ence Sunday that price increases
in excess of those agreed to when
the second economic package deal
took effect in January, would re-
vive galloping inflation.
Rock Singer's
Comment Angers
British Jews
New York (JTA) — An official
of the Board of Deputies of British
Jews has described as "an irres-
ponsible use of language" the
characterization by a British rock
star of the Holocaust as "a per-
verted tea party" compared to the
present situation in Ethiopia.
Bob Geldorf, lead singer of the
Boomtown Rats, made the com-
ment on the Holocaust after re-
ceiving a special presentation ear-
lier this month at the Phonograph
Industry's annual awards' cere-
mony in London, broadcast live on
BBC television and radio.
Geldorf inspired the Band Aid
project last year which brought
together numerous British rock
musicians to -record "Do They
Know Its Christmas Time," the
proceeds of which have gone to aid
famine victims in Ethiopia.
March of Dimes
Plans Walk-A-Thon
Key March of Dimes volunteers
will attend a special "Wal-
kAmerica Kick-Off" 5:30 p.m.
Tuesday at the Roostertail, to call
attention to this year's 30-
kilometer walk-a-thon against
birth defects.
WalkAmerica '85 will take
place April 28 at 11 locations
across southeastern Michigan.
For information, call the Wal-
kAmerica Hotline, 423-3232.
Friday, March 8, 1985
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