Word: argentinas
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Dates: during 1980-1989
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Drinan also assailed the Reagan Administration for being more concerned with "cultivating friends" than denouncing human rights violators, and he cited the Administration's recent decisions involving multi-national bank loans to Argentina and El Salvador as an example of its "dismal record...
...Falklands could upset the present mood, and last week just such a possibility was reported. Though Argentine officials denied that they were planning fresh hit-and-run attacks on the Falklands, U.S. State Department officers expressed some worry over intelligence reports of troop concentrations and exercises in southern Argentina. "They are up to something," says one U.S. intelligence official. "It may just be to keep the British on edge, to make them spend a lot of money on defense. But if you are British, you have to assume they'll try something." Which may explain Thatcher's commitment...
DIED. Arturo Umberto Illia, 82, courtly, honest and respected President of Argentina from 1963 until his ouster in a 1966 military coup; of lung disease; in Cordoba City, Argentina. A country doctor by profession, he was elected to the National Assembly in 1948 and dared openly to oppose the dictatorship of Juan Perón. On this national reputation, he was elected President, but his ineffectual administration could not reverse the country's economic slide or prevent the inevitable takeover by disgusted officers...
...intransigence is not supported by opposition figures in Britain. Liberal Party Leader David Steel, on a visit to the U.S., said, "At some point, they [Britain and Argentina] are going to have to reach an agreement about peace in the region and how the islands are governed." The pro-Labor Daily Mirror warned, "There will be other Prime Ministers after Mrs. Thatcher. They will not all share her enthusiasms nor have the same willingness to bear the expense." The price is indeed considerable. Recapturing the islands cost the government $1.1 billion, plus $1.4 billion in damage and loss of ships...
...boosted world interest rates to new postwar highs, while declining inflation in the U.S. and a rush of foreign money into the country strengthened the dollar. No longer could loans be paid off with ever less expensive greenbacks. Quite the contrary. Moreover, since the biggest borrowers-Argentina, Brazil, Mexico and South Korea-carried floating interest-rate tags (which change with prevailing rates) on most of their loans, servicing costs climbed out of sight. Between 1976 and early 1982, the London Interbank Offered Rate (LIBOR), against which most international borrowing is set, zoomed from 6% to 15%. Each 1-point rise...