Word: argentinas
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...Larosière and his staff at the IMF are paying particular attention to the perilous financial situation in Argentina. Six weeks ago, the IMF and the U.S. Treasury paved the way for a $400 million loan package from Latin American countries and international banks that enabled Argentina to meet a deadline for paying overdue interest on its $44 billion debt. But that was only a stopgap measure. At a meeting last week in Buenos Aires, IMF staffers and Argentine officials began working on a plan to get the country's finances in order. Argentina's 320 bank...
...being considered, De Larosière sent telegrams to major commercial lenders, inviting them to a meeting at the New York Federal Reserve Bank. At the session, he told the bankers that if they did not put up $5 billion in new money for Mexico and $1.5 billion for Argentina, the IMF would not approve rescue programs for those countries, further jeopardizing chances of the banks' getting back any part of their money. The moneymen were stunned...
...past two years established an unfortunate record of making loans that go sour. In 1982 it suffered a major blow from the failure of Oklahoma City's Penn Square Bank, which had sold Continental $1 billion in shaky energy loans. Currently, its beleaguered borrowers run the gamut from Argentina to International Harvester. During the first quarter of 1984, Continental's problem loans increased by $400 million, to $2.3 billion...
...come. Congress thankfully blocked the arms sales, but the blunders continued. Embassy officials criticized human rights workers, explaining that a Peronist victory would best serve American interests. In November, just one month after Alfonsin's election, Robert Schweitzer, an official with the Inter-American Defense Board, slipped into Argentina to meet with top military officials, without telling the new leaders. This enraged Alfonsin--and rightly so--enough that the United States lifted the arms ban, for lack of anything better to do. But the move was too late...
...Reagan Administration wishes to beef up Argentina's military prowess by strengthening its arsenal, there should be no strenuous objections. But what the United States must first, and more importantly, do is to show explicit and active support for Alfonsin's attempts to democratize the country. Open commitment to human rights and economic growth in Argentina must replace the "quiet diplomacy" which has thus far served only to alienate and distance the Reagan Administration from Alfonsin if the United States considers a Latin American ally a priority...