Word: alfonsin
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Until last week's announcement, Arias was not even rumored to be a serious contender for the prize. In Oslo the odds-on favorites among the 93 nominees included President Corazon Aquino of the Philippines, President Raul Alfonsin of Argentina, and the World Health Organization. The five-member committee maintained a stoic silence until the formal declaration, which cited Arias for his "outstanding contribution to the possible return of stability and peace to a region long torn by strife and civil war." Afterward, Committee Chairman Egil Aarvik, 75, made clear the committee's intent. "We hope that the award will...
President Raul Alfonsin was determined to be convincing. "A time bomb," he declared, "is planted in the middle of Argentine society." In a 30-minute television address last week, Alfonsin resorted to such dire imagery to convey a sense of emergency and justify a drastic new austerity program. To cure the country's economic ills -- runaway inflation of more than 100% so far this year, a foreign-debt burden of $55 billion and a current budget deficit of $5.6 billion -- the President offered a radical prescription: wage-price freezes, tax increases for middle- and upper-income earners and a currency...
...Alfonsin's intentions were as much political as economic. His government was shaken last month by the resounding defeat of his Radical Civic Union Party in midterm elections. The vote, which was viewed as a referendum on the administration's handling of the economy, left Alfonsin without a majority in Congress. After consultations with the opposition Peronist party, Alfonsin promised a 75% increase in the minimum wage, to $87 a month, even as he froze all other wages...
...sort of electoral verdict that sitting Presidents dread. In balloting that is certain to complicate the life of Argentine President Raul Alfonsin between now and the end of his six-year term in 1989, the opposition Peronists captured 16 of the 21 governorships at stake and swept away the ruling Radical Civic Union's absolute majority in the 254-seat lower house of Congress. The Radicals now hold 117 seats, the Peronists an unnerving...
...blue collar-based Peronist movement. "We knew it was coming," said Edgardo Catterberg, a party pollster. "There was a national sense of unfulfilled expectations." At issue was the government's handling of the economy. Inflation, which was running in the single digits two years ago, is now nearly 14%. Alfonsin's determination to make regular interest payments on Argentina's $54 billion foreign debt also continues to stir controversy. Addressing a business group late in the week, he cautioned, "We have lost the elections, but the tree has not fallen. No one should try to take wood before its time...