Word: argentina
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...BRAZIL & ARGENTINA...
Brazil and Argentina, the two biggest nations in South America, are both suffering from the same disease-political unrest based on economic difficulties, as well as (to put it the other way around) economic trouble brought on by politics. Of the two, Brazil's economy is in much the worse shape...
...queen's coronet padded with Band-Aids to make it bearably wearable, Argentina's Norma Beatriz Nolan, 24, Miss...
Like most Latins, Argentines love a lottery. Latest to capitalize on this weakness are Argentina's 100-odd savings and loan societies, each of which now holds a monthly drawing that generates almost as much excitement as the national lottery. The prize: the right to borrow money to buy a house...
...Argentines this is a prize indeed. Housing in Argentina is so short that unpretentious apartments rent for $300 a month, after "key money" of at least $1,000. And between galloping inflation and the fact that moneyed Argentines prefer to invest overseas in safer climes, mortgage credit is scarce and costly. Loan sharks charge up to 45% interest, and most banks have a five-year waiting list of would-be borrowers of mortgage money...