11 NEWS `Private' Visit Of Peres To Focus On Economy BY ERIC ROZENMAN Special to The Jewish News Washington — Israel's Prime Minister, Shimon Peres, plans to make what the Israeli Em- bassy in Washington terms a "private visit" to the United States from April 1-3. It will be his second U.S. trip in six months. Last October an ad- dress to the U.N. General Assembly and a meeting with President Ronald Reagan highlighted a crowded itinerary. This time the agenda looks shorter — tentative plans call for Peres to stop only in Washington and New York, while Reagan is on vacation in California — but private trip or not, economics and politics like- ly will highlight the Prime Minister's stay. Meetings with Vice President George Bush and Secretary of State George Shultz are pro- bable; a session with business people participating in Opera- tion Independence — a program to shift private overseas finan- cial support for Israel from philanthropy to investment — is definite. Peres' schedule also • calls for him to keynote another Jewish testimonial dinner, this one for World Jewish Congress head Edgar Bronfman Jr. But the crucial part of the visit may well come in private meetings between the Prime Minister and the Secretary of State. The topic will be Israel's economy and the debate over economic growth. This issue recently rattled the national Coli8eum collection Fidelio collection and RAYMOND WEIL GENEVE Shimon Peres gram last summer. Shultz told a subcommittee of the Senate Appropriations Committee in mid-March that "we're trying to have .the flow of aid take place in such a way as to be most useful...to help Israel get its economy in shape." After prais- ing the achievements of the reform program so far; he said the second installment of sup- plemental aid "obviously needs to.be dispersed fairly soon." Now is an opportune time for Israel's economy to focus on growth, the embassy source said, adding that "the ques- tion...will be raised" by Peres in his U.S. meetings. The timing is right politically as well as economically, he added, because "you cannot prolong austerity without showing some light at the end of the tunnel." Peres used the lightat-the-end-of- the-tunnel phrase in announcing austerity 18 months ago and Peres and Shultz Shultz has echoed it, most recently in his Senate testi- will discuss the debate in Israel over mony. But the timing of a shift from stabilization to growth has a economic growth. partisan as well as s general political edge. Both Labor and Likud have an eye on the scheduled rotation in office this government, with Peres . unity between Peres and and some Labor Party col- October Foreign Minister Yitzhak leagues pushing for a shift from Shamir. Both parties shared stabilization to expansion, and Likud members arguing that responsiblity for austerity neither wants the other' to get the battle against inflation is sole credit for economic growth not over yet. it does occur. .Meanwhile, Israeli diplomats when Neither major bloc in the in Washington say they have Israeli government doubts asked the United States to whether stabilization has begun; release soon the second and final inflation, which hit an annual $750 million installment of sup- rate of 440 percent before the plemental economic aid the reform program seems to have United States began providing leveled out at around 25 percent last year. The U.S. has in- and foreign reserves, previously dicated it will disperse the sup- under the $2 billion "red line," plemental, but has not said have climbed back to approx- when," an embassy source imately $3 billion. Questions noted. He said the earlier the arise over whether the change is transfer comes, the better able permanent. Israel will be to do long-range Improving the balance sheets economic planning. brought pocketbook pain to the The emergency economic Israeli public. According to assistance provided a cushion Prof. Howard Pack, a Swarth- for Israel's dangerously low more College economist familiar foreign currency reserves as the with the Israeli economy, "real unity government launched the second and more austere version Continued on next page ., of its economic stabilization pro- His: $750. Hers: $730. RAYMOND WEIL GENEVE • Triumph In Dignity And Styling Stunning Swiss Handcrafted Masterpiece 18K Gold Electroplated Expansion Clasp • Water Resistant rf , FREE GIFT WRAP CASH REFUNDS. MONAAT. 10:00-5:45 THURS. 10:00-8:45 fine jewelry and gifts PHONE 357-5578 s • Eater from 12 Mile Rd. OR Easy access eft India Rd. Moue Wpm Apt. straw t6400 West Twelve Mile Rood Northeast comer of 11 Mlle a Northwestern Hwy. Formerly the Racquetlme Bldg. Now newly remodeled The closer you look, the better we get. • •