2 - The Michigan Daily - Tuesday, October 6, 1998 NATION/WORLD IMF discusses financial crisis Committee cites serious worsening of economic prospects I WASHINGTON (AP) - The policy-setting com- mittee for the International Monetary Fund said Sunday that the global economic outlook has "wors- ncd considerably," but ended a day of discussions on the subject by papering over disagreements on how to halt the widening financial crisis. The IMF's interim committee pledged "concrete And rapid action" to deal with the worst global eco- nomic crisis in 50 years but used vague language indi- cating substantial disagreement still exists. Citing deepening recessions in Japan and many Asian nations, the collapse of the Russian ruble and stock market turmoil around the world, the IMF panel said, "The outlook for the world economy has worsened considerably since the committee's April meeting." The United States and a number of other nations in recent weeks have put forward major proposals to overhaul the operations of the IMF, which has been widely criticized for bungling the way it has handled the Asian crisis. However, the final IMF statement underscored how much disagreement remains over just what approach should be taken. None of the major measures were adopted, although the group pledged to continue working toward agreement on a coordinated strategy. "Now is the time to follow up with concrete and rapid action," the IMF statement said, although it indi- cated many of the proposals would not be acted on until next spring. The disagreements between nations on the IMF panel reflected the differences that surfaced in discus- sions Saturday among the finance ministers and cen- tral bank presidents of the world's seven wealthiest countries. Despite a major Clinton administration effort to pro- ject unity among economic powers in these meetings, there is still strong disagreement over the proper course to follow. The weekend discussions represented the start of the annual meetings of the 182-nation IMF and its sister lending organization, the World Bank. U.S. officials insisted that they were happy with the initial support they have received for a major ini- tiative Clinton unveiled Friday that would accelerate emergency IMF loans to countries threatened with investor panic. In its statement, the IMF committee said it would "explore" such an approach but stressed that nothing could be done without the United States and other major members replenishing the IMF's depleted resources. Several nations, including Britain and Japan, had said earlier in the day that agreement of the U.S. ini- tiative depended heavily on whether the U.S. Congress ends its delay and approves an $18 billion U.S. contri- bution before its scheduled adjournment later this week. The final IMF statement did prod Japan, as the world's second largest economy, toward moving much more quickly to jump-start its economy and deal with an estimated $1 trillion in debt weighing down its banking sector. It also criticized Russia for defaulting on billions of dollars in foreign loans in August - an action that shocked markets around the world - and urged the government of Boris Yeltsin to take "immediate mea- sures to re-establish confidence in the ruble" and resume payments to foreigners holding Russian debt. Despite the policy disputes at the IMF, the United States pushed ahead Sunday with efforts to assemble a multibillion-dollar bailout plan for Brazil, the latest country threatened by panicked investors seeking to pull out their money. It was expected that perhaps a $30 billion emergency credit line for Brazil could be announced yesterday if final results are known by then in that country's presi- dential election. Incumbent Fernando Henrique Cardoso was projected as the winner by exit polls. But on proper policies to pursue in their own coun- tries, the major economic powers showed less agree- ment. British and German monetary officials resisted pressures to follow the lead of the U.S. Federal Reserve in cutting interest rates to spur growth and make sure that a slowdown in Europe doesn't add fur- ther drag on an already weakened global economy. More than $100 billion in IMF bailout packages have been put together since the start of the Asian cri- sis. They provided help only after a country's econo- my was decimated and its resources depleted by investors seeking to flee. Under the Clinton proposal, the IMF would offer credit earlier in hopes of averting a disastrous flight of capital. The University of Michigan BASKETBALL BAND AUDITIONS Auditions will consist of scales and, sight-reading. Drum Set players will also need to demonstrate various styles. REHEARSALS for both Bands will be on Tuesday evenings. DEPRESSION Continued from Page 1 cant group in the middle," Klinkman said. While the physician's guide to mental health may list 16 different types of depressions, Klinkman said, those labels do not apply to those who have sporadic temporary depression. Experts at the University's office of Counseling and Psychological Services Positions open for: Drum Set Piccolo Clarinet AM bSaxophone Tenor Saxophone Trumpet Horn Trombone Euphonium Tuba . ,: , - r'. f y ct 1 Y t k ' G Z t': i - The Psi Upsilon Fraternity ac that appeared in the October 2nd and 5th editions of The Michigan Daily contained an error. The Psi Upsilon address should have read 1000 Hill Street. we apologize for any inconve- nience this may have caused. said they hope depression can be iden- tified. Thursday is National Depression Screening Day. The office is planning to hold free screenings for depression in the Michigan League from 10:30 a.m. to 5:30 p.m. Participants will receive a questionnaire and the answers will be scored to detect whether the indi- vidual possibly has major depression. "You clearly can determine if someone is depressed," said LaReese Collins, asso- ciate director for outreach and liaison for CPS and coordinator of the University effort. Tihe screenings are anonymous. During last year's National Depression Screening Day, more than 80,000 people nationwide were screened at 2,400 sites. But Klinkman said questionnaires are not a reliable way to identify depression, adding that about half of those who received similar questionnaires in his study registered a high depression score. At most, half of those diagnosed had major depression. Klinkman compared major depression to chronic asthma and minor depression to appendicitis, a problem which can be resolved quickly and easily. Those who screen positive from the test will be given referrals for psychological services, Collins said. PLAYING AUDITIONS WILL BE HELD OCTOBER 6-8, 1998 Sign up at Revelli Hall anytime between 2 and 6 pm. For more information call 764-0582 after 1 pm. **Those selected for Women's Basketball Band will receive an honorarium" AROUND TH NATION Court action may spur more drug tests WASHINGTON - Public schools nationwide may be encouraged to requir more students to take drug tests after the Supreme Court allowed an Indiana dis- trict to continue such tests. Rejecting an appeal by teen-agers and their parents yesterday, the court let a rural school district conduct random drug tests for all students in extracurricular act' ties - from sports teams to the library club - even if they are not individur suspected of using drugs. The justices, acting without comment, left intact a federal appeals court ruling that said such testing does not violate students' privacy rights. Starting its 1998-99 term with a flurry of paperwork, the court issued orders in more than 1,600 cases. It granted full review to just six. Outside the stately courthouse, more than 1,000 members of the National Association for the Advancement of Colored People noisily demonstrated yester- day to protest the court's lack of minority law clerks. NAACP President Kweisi Mfume and 18 other people were arrested for trying to demonstrate on court prop- erty rather than on the public sidewalk. The court's action in the drug-testing case is not a decision and therefore set. national precedent. It remains binding law in three states - Indiana, Illinois Wisconsin - and it may entice educators in other states to expand drug testing. Congress expands The public housing overhaul was attached to the fiscal 1999 spending subsidized housing bill for the Departments of Veterans Affairs and Housing and Urban WASHINGTON - Congress agreed Development, which was given a $2 yesterday on legislation that expands the billion boost in funding over the cur- availability of subsidized housing for the rent year. first time in five years and allows hous- ing authorities to move more working ee plad l families into apartments now reserved Teen p ea sgilIin almost exclusively for the poor. in school shootings After years of political stalemate, Republicans and Democrats compro- PADUCAH, Ky. - A timid-looking mised on a bill that would update the teen-ager who opened fire on a high Depression-era public housing laws school prayer circle, killing three fellow that critics contend have allowed many students, pleaded guilty but mentally ill housing projects to become centers of yesterday and will have to spend at least urban blight and crime. 25 years in prison. "We have begun the process of decon- With his arms folded, Michael Ad* centration of the poor," said Sen. Connie Carneal, a slightly built youngster with Mack (R-Fla.) "It won't happen glasses whose fair complexion and rosy overnight, but we are trying to create a cheeks made him look younger than his mix, to have role models, to have a foun- 15 years, acknowledged carrying out the dation for building a community." attack last Dec. 1 at Heath High School Under the measure, managers of in West Paducah. housing projects could admit new resi- Five other people were wounded in dents with annual incomes of up to the rampage, one of a series of school $35,000 - or higher in the most shootings that rocked the nation during expensive areas of the country. the last school year. AROUND THE WORLD expressed concern that Milosevic was U.S. envoy warns "playing the classic game of making Yugoslavia of strikes false promises" to avoid NATO mili- tary strikes. BELGRADE, Yugoslavia - With Clinton, in a telephone call w9 NATO attacks said to be only days Russian President Boris Yeltsin, said away, a top U.S. envoy arrived yester- Milosevic's compliance with U.N. day with an I1th-hour warning to demands "must be verifiable, tangible Yugoslavia's president to halt his crack- and irreversible," press secretary Joe down on ethnic Albanians in Kosovo or Lockhart said at the White House. face airstrikes. Richard Holbrooke began talks with China sig scivil Slobodan Milosevic yesterday evening after arriving from Brussels, Belgium, nghts agreem ent where he conferred with senior NATO officials. UNITED NATIONS - China Before boarding a plane for signed an important international Belgrade, Holbrooke said conditions in agreement on civil and political rights the southern Serbian province had not yesterday that guarantees protection improved since the alliance started two ' against arbitrary arrest while securing weeks ago to finalize plans for air raids freedom of thought, religion and to force Milosevic to halt his offensive expression. against Kosovo Albanian separatists. The treaty provides for fair trials, Holbrooke said he planned to drive prohibits torture, or cruel or degrading home to Milosevic "the extreme gravi- punishment, and recognizes that citi- ty of the situation" Holbroke negoti- zens have the right to life, liberty and a ated the peace deal with Milosevic and prompt appearance before a judge a other Balkan leaders that ended the 3 seizure by authorities. 1/2-year Bosnian war in 1995. In Washington, President Clinton - Compiledfom Daily wire reports. I I The Michigan Daily (ISSN 0745-967) is published Monday through Friday during the fall and winter terms by students at the University of Michigan. Subscriptions for fall term, starting in September, via U.S. mail are $85. Winter term (January through April) is $95, yearlong (September through April) is $165. On.campus s scriptions for fall term are $35. Subscriptions must be prepaid. The Michigan Daily is a member of the Associated Press and the Associated Collegiate Press. ADDRESS: The Michigan Daily, 420 Maynard St., Ann Arbor, Michigan 48109-1327. PHONE NUMBERS (All area code 734): News 76-DAILY; Arts 763-0379; Sports 647-3336; Opinion 764-0552; Circulation 764.0558; Classified advertising 7640557; Display advertising 764-0554; Billing 764.0550. E-mail letters to the editor to daily.letters@umich.edu. World Wide Web: http://www.michigandaily.com. NEWS Janet Adamy, Managing Editor EDITORS: Maria Hackett, Heather Kamins. Jeffrey Kosseff, Chris Metinko, STAFF: Melissa Andrzejak, Paul Berg, Adam Cohen, Gerard Cohen-Vngnaud, Nikita Easley. Rachel Edelman. Erin Holmes, Josh Kroat. Wiliam Nash, Kelly OConnor.Lee Palmer, Katie Plona, Susan T. Port. Nika Schulte, Mike Spahn, Jason Stoffer, Jennifer Yachnn Adam Zuwenk. CALENDAR: Katie PMona. EDITORIAL Jack Schllaci, Editor ASSOCIATE EDITORS: Sarah Lockyer, David Wallace STAFF:Emily Achenbaum, Jeff Eridge, Lea Frost, Keanwan Hafeez, Eric Hochstadt, Scott Hunter, Thomas Kulijurgis, Sarah Lemire. Miller. Abby Moses, Aaron Rich. Peter Romer-Friedman, Killy Scheer, Megan Schrmpt. John Targowski. SPORTS Jim Rose, Maglng Editor EDITORS: Josh Kleinbaum, Sharat Raju, Pranay Reddy. Mark Snyder. STAFF: T.J. Berka, Josh Borkin, Evan Braunstein, Dave DenHerder. Chris Duprey, Jordan Field, Mark Francescutti, Rick Freeman, Rick Harpster. Vaughn R. Klug. Andy Latack, B.J. Luria, Stephanie Offen, Kevin Rosenfield, Tracy Sandler, Nita Snvastava, Uma Subramanian., Jacob Wheeler. ARTS Kristin Long, Christopher Tkaczyk, Editors WEEKEND, ETC. EDITORS: Jessica Eaton, Will Weissert SUBEDITORS: Brian Cohen (Music), Michael Galloway (TV/Newnuda), Anna Kovalszki (Fine/Pefomung Arts), Joshua Pedersn (Fahf, Corinne Schneider ( Books) STAFF: Joanne Ainajjar, Matthew Barrett, Chris Cousino, Gabe Fajurn Laura Flyer. Geordy Gantsoudes. Steve Gertz, Jewel Gopwani, Cat Hall, BryanLark. Jie LUn, James Miller, Rob Mitchum, Kern Murphy, Joshua Pederson, Erin Podolsky, Aaron Rich, Adm Rosh, Deveron Q. Sanders, Ed Sholinsky, Gabriel Smith, Ted Watts, Curtis Zimmerman. PHOTO Margaret Myers, Warren Zinn, 3db Arts Editor: Adnana Yugovich W STAFF: Louis Brown, Allison Canter, Mallory S.E. Floyd, Joy Jacobs, Jessica Johnson. Dana Linnane, Matt Madill, Kelly McKinnell ONLINE Satadru Pramank Editor STAFF: Mark Francescutti. GRAPHICS STAFF: Alex Hogg, Vicky Lasky, Michelle Mc Combs, Jordan Youn. !BUSINE ST ALEmSi sne . ssf, Salso DISPLAY SALES aihm Rawo, UMmagsr11111 ",. "t.' cltlS i.i Belze-RusiaIrean - 1 eto S BEI TO N LPRGM ,232 Bay State Road BostonN MA 12215 617/353-9888 Vist our webh apage"http://,-ti u.edu/abroad ^" t""'"4nm ,f" rm"'"v" "" "s""i" -U', Tutors for UofM Classes! University Tutoring Services has tutors for most U of M classes, including Bio 152, Bio 154, Calc 115, Calc 116, Calc 215, Chem 130, Econ 101, Econ 102, Eecs 100, Eng 124, Eng 125, French, German, Korean, Physics 140, Physics 240, Spanish, Stats 100, and Stats 402. 9 IVI61:I ELUO IVI %.I III la lU S.A Don't Get Frustrated... University Tutoring Services 308 1/2 S. State Street Suite 37 Ann Arbor, MI 48104 Get Help! Call: (734)741-4200 www.utstutor.com v. " , F .s l t 'OB FA '98 Tuesday, October 6, 1998 MichiganUnion 12:00noon - 5:00pm ~0I - ' q v' I .. I