The International Money Fund loaned Mexico $3.8 billion to prevent its insolvency.
Sony released the world's first CD player in Japan.
The United States of America founded Space Command (SPACECOM), the first of its kind in the US Armed Forces.
The musical 'Little Shop of Horrors' by Alan Menken and Howard Ashman premiered on Broadway at Orpheum Theater, New York, US.
'Eye Of The Tiger' by Survivor reached number one on the Billboard Hot 100 and stayed there for eight weeks.