Word: accion
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Yunus is not the only Third World visionary to teach Americans to think more creatively about credit. "The U.S. is seven to eight years behind the rest of the world when it comes to lending to the poor," says William Burrus, executive director of Accion International, a private development organization in Cambridge, Mass. Accion has loaned $75 million to workers in Central and South America and created 100,000 permanent jobs. When Accion decided to widen its mission to fight poverty in the U.S., it dispatched Delma Soto-Larsen to start a self-employment project in the Williamsburg section...
DIED. Juan Pablo Pérez Alfonzo, 75, former energy czar of Venezuela and chief architect of the Organization of Petroleum Exporting Countries; of cancer; in Washington, D.C. Pérez Alfonzo helped form the Accion Democratica party in 1941, became Minister of Mines on its rise to power four years later. He sought to organize a union of oil-producing nations, a goal realized in 1960; and to nationalize Venezuelan oil, which was done in 1976. In recent years he admitted that as "the father of OPEC, I sometimes feel like renouncing my offspring...
...President Luis Echeverria Alvarez to succeed him. Because Mexican law limits a President to one six-year term, the incumbent customarily chooses the next standard bearer of the ruling Partido Revolucionario Institucional (P.R.I.), which has dominated Mexican politics since 1929. Moreover, the failure of the tiny Partido de Accion Nacional (P.A.N.) to agree on a candidate left Lopez Portillo without even token opposition...
Joseph Blatchford, 40, set up ACCION, a privately financed, youth volunteer group in Latin America in 1960-before John Kennedy started the Peace Corps. Named to run the Peace Corps for the Nixon Administration, he resigned in discouragement in 1972 because nobody was listening to his ideas (for example, giving college students academic credit and living expenses for a year of domestic volunteer work). Blatchford, an unsuccessful California congressional candidate in 1968, is sidelined this year by a lack of campaign funds, but he is helping Republican Houston Flournoy campaign for Governor. "Right now," says Blatchford, "the challenge...
...first public announcement of the arrest was made at a police press conference on Sept. 17, at which Mexican authorities exhibited a group of prisoners--including Hyland and one other American--who they said were members of a revolutionary organization called the Movimiento de Accion Revolucionario (Revolutionary Action Movement). Police charged that the group was responsible for a series of bank robberies in Mexico City and elsewhere...