Word: andean
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Dates: during 1980-1989
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While the Andean country's borrowings are dwarfed by those of such neighbors as Brazil ($96 billion) and Argentina ($43.6 billion), the Bolivian action nonetheless shook moneymen. Phone calls from anxious foreigners flooded embassies, newspapers and government agencies in the capital city of La Paz. On Wall Street, prices slid further on a bond market still edgy over last month's near collapse of Chicago's Continental Illinois...
...storms smashed California beaches last winter, while Australia, Indonesia, the Philippines, Sri Lanka, southern Africa and southern India all suffered from drought. "A year of natural catastrophe," says M. Peter McPherson, director of the U.S. International Development Cooperation Agency, which has provided $60 million in emergency aid to flooded Andean nations...
Although the assault on Lima was the most daring raid yet by the guerrillas, nearly 3,000 government troops and police have been battling them for months in their rugged Andean stronghold of Ayacucho, 200 miles to the southeast. In the past three years, skirmishes between the insurgents and the army have killed more than 1,000 people. Those numbers are now sure to rise: in a sign of the government's new sense of urgency, 50,000 police have been deployed throughout the country...
...have been unthinkable. A notoriously repressive dictator, Pinochet has regularly silenced his opposition with torture, killings and exile. In the 9½ years since he took power in the bloody coup that overthrew Marxist President Salvador Allende Gossens, Pinochet has also maintained control by bringing remarkable prosperity to the Andean nation. But Chile's economic miracle may have run its course. After a booming 7.3% average yearly expansion of the economy from 1977 to 1981, Chile suffered a catastrophic 13% negative growth rate in 1982. As a result, Pinochet's regime is threatened by unrest over unemployment...
Such hoary superstitions do not seem to interest Belaúnde. The President wrote off the Easter massacre as "an insanity perpetrated by people who are psychologically unhinged." Although he has deployed his troops, Belaunde will need a more detailed and determined policy if he is to save Andean villagers from their ruthless oppressors...