Word: argentinas
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...Like Argentina, Venezuela has fallen behind in paying interest on its $34 billion debt. The country has refused to accept an IMF austerity program to get new loans, and the Venezuelans are relying on oil revenues to pay for vital imports. Jaime Lusinchi, who became Venezuela's President in February, vowed that his government "will pay back every cent it owes," but said that he would not submit to repayment terms that "impede the progress of the country...
...loans only if its economies become healthy again. That may be impossible as long as interest burdens remain staggering. Eventually, Western banks and governments will probably have to work out a plan for giving the Latin Americans lower interest rates and much longer repayment periods. Last week's Argentina rescue bought some time, but it only postponed the day when bankers and governments will have to deal with the debt crisis in a more fundamental way. -By Charles P. Alexander. Reported by Gisela Bolts/Washington and Nina Lindley/Buenos Aires
...such a small problem as these few rocky islands." Galtieri complained that people in the American embassy were asking for visas to go to Uruguay; this made Argentina look like Iran instead of a civilized Christian nation. "You must seek a peaceful solution," he said in a tone of urgent appeal. Then he suggested I meet with the full junta...
...undertaken the Falklands mission as a means of upstaging Ronald Reagan in his visits to Jamaica and Barbados. The White House term for my peace mission, I was told, was "grandstanding." This was a charge that might better have been leveled at Leopoldo Galtieri and his comrades in Argentina, but I saw no point in bringing this to the attention of the President's ruffled aides...
Ambassador Kirkpatrick, a specialist in Latin America, vehemently opposed an approach that condemned Argentina and supported Britain. Such a policy, she told the President, would buy the U.S. a hundred years of animosity in Latin America. In general, I held the same views as Mrs. Kirkpatrick on broad issues and most specific ones. In the Falklands crisis, however, our positions were irreconcilable-not because of any personal issue or special taste...