Word: argentina
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...statesmen admitted the necessity for quick U.S. action. Some even went on record about it. Mexico's Foreign Ministry said that it regretted a move "which evokes such painful memories," but recognized the humanitarian reasons and hoped the marines' stay "will be as brief as possible." Added Argentina's Foreign Minister Miguel Angel Zavala Ortíz: "Sometimes those who appear as intervening actually are only reacting against a hidden intervention...
...them through the interior without notable success. Colombia's even more expert army no sooner cleaned out the country's bandits than a pair of Castro-style guerrilla bands cropped up in the same Andean hills. There have been reports of Communist guerrillas in Guatemala, Honduras, Peru, Argentina, Brazil?and of course the Dominican Republic, for which Castro has a special affinity. Way back in September 1947 Fidel himself, then a student, was involved in an unsuccessful attempt to launch a 1,100-man invasion force from Cuba...
...long-range strategic reason (for those who deny the importance of morality in politics) is more compelling. The U.S. can intervene two or three times in the small republics and succeed. But the real stake is the allegiance of the giants of Latin America--Brazil, Venezuela, Argentina, and Chile. Intervention is simply not worth the animosity that accrues to the U.S. in the great republics, where no sane President would dare try the same thing...
...called his emissaries back to Buenos Aires, explaining through Economy Minister Juan Carlos Pugliese that the government could not accept the terms laid down by IMF "without prejudicing its own plans for the gradual deceleration of the inflationary process." And on that ominous note, the regime last week devalued Argentina's once proud peso from 151 to 171 to the dollar...
Linking devaluation to the IMF debacle was a baldly political attempt to saddle Washington with the blame for years of fiscal mismanagement in Argentina. Moreover, though Illia's government announced bravely that it would now deal independently with the nation's creditors in Europe, the U.S. and Japan, hardheaded foreign bankers are not likely to stretch out repayment terms-as they did for Brazil and Chile -without IMF backing for the Argentine government. Meanwhile Illia announced new export taxes that will virtually cancel out any profits that exporters stood to gain through exchange devaluation...