Word: alfonsin
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...year the IMF and the banks negotiated a $1.5 billion loan for Argentina, of which the country has drawn $500 million. The IMF suspended the rest of the credit line, however, when Argentina failed to stick to agreed-upon targets for cutting government spending and slowing inflation. After Raul Alfonsin became President in December, the new civilian government gradually began working on an economic program that would satisfy...
Argentina promised last week that it would slash its government deficit from 14% of national output to 9% as a way of curbing inflation. But Alfonsin may have trouble getting Argentine labor unions to accept wage restraint. The opposition Peronist party tightly controls many of the unions. Alfonsin has tried unsuccessfully to push a bill through Congress that would have made unions more democratic...
...talks with the IMF, the Argentines have made it clear that they would not agree to a stringent belt-tightening program that might slow growth. Their economy expanded only 2.8% in 1983, following two years of decline. "We will pay the foreign debt, but without recessive conditions," Alfonsin declared. "We will not negotiate the hunger of the people...
...Alfonsin resents being asked to pay a debt that piled up primarily during nearly eight years of despotic military rule. His defiant stance is immensely popular with the Argentine public. Buenos Aires newspapers last week were sporting such headlines as ENOUGH OF YANKEE MONEYLENDERS and GRINSPUN FACED UP TO THE BANKS. The debt negotiations were the talk of the town. Cab drivers asked their passengers, "What do you think the banks will...
Last week Alfonsin had some proposals of his own, most of them unacceptable to the British. Among them: an end to Britain's 150-mile exclusion zone around the islands, replacement of the Falklands garrison of some 4,300 British troops and workers by a U.N. force, and a halt to construction of a $319 million civilian-military Falklands airport. Neither side was budging on the bedrock issue: Argentina's claim to the Falklands and Britain's firm position that the islands have belonged to Britain without interruption since 1833, and that at the very least...