Word: alessandri
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Dates: during 1950-1959
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...while Peru's Prado drew cheers, his navy brass was quietly concluding a deal to buy two cruisers from Britain for $4,000,000. President Jorge Alessandri of neighboring Chile, who earlier had assailed the "ruinous competition" in weapons, observed that "it is not a logical attitude to propose a conference and then to buy new arms." And despite Frondizi's stand, Argentine officers were in Washington purchasing 28 F-86F Sabre jets...
...Domestic currency, freed by Alessandri, has stabilized at 1,052 pesos to the dollar (up from the 1958 low of. 1,200). Foreign-exchange reserves are .back to $30 million, highest since January...
...Finance Ministry in Santiago last week, urging government contractors to stop in and pick up their monthly checks-cashable immediately. In Chile, where contractors are resigned to waiting years for the government to pay, it was a sign of real progress. In the nine months since Paper Tycoon Jorge Alessandri, 63, moved in as President on a free-enterprise platform, the longtime degeneration of the national economy has been halted, even reversed in spots. Items on the ledger...
With a year-long grant of dictatorial powers over the economy (TIME. March 23), Alessandri has also cut back 5% of the overstaffed civil service, paid $96 million long owed to private contractors by the government, and clamped down on tax evaders. The one place where his regime has fallen short is in the battle against inflation. In the new President's first six months, living costs jumped 22.2%. largest increase since 1955. Alessandri argues that the rise was premeditated; before launching his austerity program, he raised wages an average 32.5%, because "it was a social and political impossibility...
...President is politically secure, with 98 votes to 49 in the house, 29 to 16 in the Senate. And, for the moment, at least, Jorge Alessandri's countrymen are willing to go along with his program. Says a top industrialist: "This is our last chance. Whether we approve of his high-handed, aggressive and independent ways or not, we have got to help...