Word: bela
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...prospect was hardly encouraging 18 months ago when Belaúnde took over after a bitterly fought election. With Peru's economy just starting to gather momentum, agitators within the unions were threatening crippling strikes, landless highland Indians were waging angry battles against their landowners, and businessmen were sending their money abroad for safekeeping...
...Without Bloodshed." A handsome architect turned politician, Belaúnde seems to have had the right blueprint. He sent troops into the highlands to restore law and order, then enacted a sensible land-reform bill that will provide land for the landless without destroying the big, productive estates on which the country's agriculture depends (TIME, July 3). Throughout Peru, police rounded up extremist troublemakers to make it plain that despite some Communist support in the elections, Belaúnde would tolerate no Red-made unrest. Though his Action Popular party and its political allies held only a minority...
...effect of Belaúnde's leadership was to make 1964 the best year ever for Peru's economy. Exports-chiefly fish meal, cotton, copper, sugar and iron ore-jumped 25% to a record $665 million, the G.N.P. rose an impressive 12%, and the sol (3.7?) remained one of South America's most stable currencies. On Lima's outskirts, General Motors is completing Peru's first auto-assembly plant, a $5,000,000 operation that will enable Peruvians to buy autos without paying duties that go to 110% on most U.S. models. Fourteen other automakers...
...Houses. This year's economic growth may be better still-if Belanúde can settle a squabble with International Petroleum Co., a Standard Oil of New Jersey affiliate that has been working the rich fields on the north coast since 1914. During the campaign, Belaúnde called loudly for the company's expropriation, and Congress later unanimously revoked I.P.C.'s oil rights. But Belaunde is smart enough to know that Peru will get neither the aid nor the continuing private investment it needs unless he makes a fair settlement soon. In private negotiations...
...national budget will allow, Belaúnde has made some progress. His government has already built thousands of classrooms, and 20,000 low-cost housing units are under construction. The oil controversy has held down the U.S. Government loans that he needs to implement his social schemes. Nearly two-thirds of the country's 11 million people live in the bleak Andean highlands; more than half are illiterate, and one-third of the 3,000,000 school-age children still have no schools...