Through prudent monetary and fiscal policy, inflation was held between 5%-10%, the rupiah was stable and predictable, and the government avoided domestic financing of budget deficits.

Fallout from the international, 2008 financial crisis later forced the Argentine government to seek domestic financing for growing public spending, as well as for foreign debt service obligations.

Sallie Mae arranged swap transactions to eliminate its currency risk and reduce its borrowing cost to less than it would pay in a standard domestic financing.

Most governors applauded the proposal, although some said privately that it could be a smokescreen to conceal proposed reductions in domestic financing.

The real reason our local schools are facing deficits is the drastic cuts that the Bush administration has made in domestic financing.

In response to the higher global interest rates and to the depreciation of the peso, the government became increasingly reliant on domestic financing to finance fiscal deficit.

All kinds of domestic financings totaled $262.4 billion in the first quarter, up from last year's quarterly average of $213 billion, according to the Securities Data Company.

Since then, its activities have expanded to include domestic financing in West Germany, export and project financing, and financial assistance to developing countries.

Major elements of the financial plan included allocation to consumption and investment, foreign and domestic financing of investment, and wage and price changes.

Their goal is to encourage Japanese corporations to do more domestic financing, which has slowed to a trickle because many issuers have turned to more flexible overseas markets.