Word: argentinas
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...Tomba's comeback is a bottomless source of marvel for his adoring fans. His Olympic disappointments last year in Lillehammer, Norway, led the three-time Winter Games gold medalist to consider retiring. His father, among others, talked him out of it, Tomba says. Last summer he trained intensively in Argentina and Chile, shedding the between-competition flab that at times has made La Bomba look more like an overgrown bambino. He returned in harder shape and, with age catching up on him, more determined than ever...
...MICHELLE PFEIFFER to the list of actresses who will never belt the words Don't Cry for Me, Argentina. Pfeiffer rejected the role of Eva Peron in the much delayed screen version of Evita because she wanted to spend time with her new family. Madonna and Meryl Streep had also been considered to play the wife of Argentine dictator Juan Peron. New possibilities include Patricia Arquette, star of A Nightmare on Elm Street...
...Brazil, Chile and Argentina, all guarantors of the 1942 treaty, have pressed both sides to avoid further bloodshed. No one doubts that a full- blown war between Peru and Ecuador would be a lopsided contest. Peru's armed forces (115,000 soldiers) and population (22 million) are twice the size of its rival's. ``Conflicts like this start as skirmishes, but they always hold within them the potential to escalate,'' says a senior Administration official. ``It's important to nip them in the bud.'' And in this case, to try to settle the border dispute once...
...midweek, Mexico got a measure of relief when the International Monetary Fund approved a $7.8 billion loan, the largest it has ever made, to help stabilize the peso. Argentina, Brazil, Chile and Colombia also jointly opened a $1 billion credit line for Mexico. But the infusions were not large enough to solve Mexico's most serious challenge: finding sufficient funds to pay off or refinance $26 billion in mostly foreign-owned short-term bonds maturing during 1995. The government got a hint of the difficulties ahead last week when it put at auction $400 million in U.S. dollar-denominated bonds...
Mexico is not the only victim of the crisis of confidence. Emerging nations that have been relying on foreign investment to underpin financial reform and build prosperity will have to do with less as a result of the cooling of investor ardor. Argentina, which like Mexico has an overvalued currency and carries substantial foreign debt, has watched $1.8 billion flee the country since the Mexican devaluation, despite firm promises by the government that the Argentine peso will not be devalued. Last year $11 billion flowed into Argentina in direct and indirect investment; this year the amount is expected to drop...