Word: argentina
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...President of Argentina was to have been overthrown at 7 a.m. on June 19. Distrustful anti-Peronista military men, who cannot forget that Arturo Frondizi took Peronista votes to get elected last year, were determined to oust him. The fact that he now espouses austere anti-Peronista economics made them the more doubtful; to the military that looked devious. The plotters underestimated Frondizi. Last week he was still in office with a strong new Cabinet, and most of the plotters were in hiding...
...Argentina, intent on curing its economic ills, needs to cut beef consumption and restore it to its historic role as a foreign-exchange earner. One day Amalia Ferrer, wife of an insurance-company employee, said to her butcher: "Carlos, two kilos of beefsteak." Carlos cut the thick slices, said: "Seventysix pesos [the equivalent of 19? a pound]." Señora Ferrer protested: "But Don Carlos, only last Friday I paid 60." Sighed the butcher: "That was Friday. Today this is the price; soon it will be more." The housewife settled for stew beef...
Getting Results. Frondizi's plan to force Argentina to live within its means -by removing price subsidies from food, freeing foreign trade, freeing the artificially pegged peso to find its real level-has ended what used to be one of the most comfortable ways of life in the world. With prices rising, beef consumption is down 40%, capital district retail sales 60%, attendance at movies 20%, attendance at soccer games and horse races 25%. Even the rate of marriages has fallen 13% because of higher costs of setting up a household. The need for dollars to buy U.S. capital...
Born. To Nelly Rivas, 20, Lolita-like friend at 14 of fading Argentine Dictator Juan Peron, and Carlos José Ramil, 25, a U.S. Embassy accountant in Argentina: their first child, a son; in Buenos Aires. Name: Carlos Joseé Jr. Weight...
...left, this cold realist soon concluded that he had to put an end to the labor featherbedding, price subsidizing and other self-indulgences institutionalized by Demagogue Juan Perón. Item: per capita gross national product had remained stationary for four years. Item: though Argentina ranked ninth in the world in oil reserves, the inefficient, 37-year-old national oil monopoly forced it to spend $300 million annually to import petroleum and refined products...