Word: alfonse
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In the arrangement announced last week by Grinspun at the joint annual meeting of the World Bank and the IMF, Argentina pledged to clamp down on its money supply and credit, push up interest rates (currently 15.5% for deposits) in order to encourage savings, slow inflation, and stem the outflow...
In return for agreeing to the new measures, Argentina will get $1.4 billion in IMF loans during the next 15 months. But the money will not start flowing until December, assuming the IMF board gives final approval to the deal worked out last week. That will give Argentina time to...
A week of diplomacy and political drama was set to begin Sunday, with Reagan playing host at a reception at New York City's Waldorf-Astoria Hotel for 150 leaders of delegations to the General Assembly session. Among other heads of state who planned to attend were Salvadoran President...
Stiff of bearing and devoutly Roman Catholic, Lieut. General Jorge Rafael Videla was a reassuring figure to many Argentines in March 1976, when he emerged as President of a military government intent on ending years of economic chaos and political violence. Then Videla led Argentina's armed forces into...
As developing nations have gone deeper into debt in recent years, the IMF has become a major target of their hostility. They covet its money, but fear the consequences of borrowing it. Argentina, for example, desperately needs $2.1 billion in IMF credits. But in return for the money, the fund...