Word: carazo
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Dates: during 1970-1979
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Cutting back on consumption is not enough. Tanzania uses roughly half as much petroleum as in 1972, but its oil bill has risen 900%, and now eats up half of all earnings from the country's exports. Complains Rodrigo Carazo, President of Costa Rica: "Our 1972 oil needs cost $11.8 million. Our 1979 needs will cost at least $103 million. The barrel of oil that we could buy in exchange for 57 Ibs. of bananas or 3 Ibs. of coffee in 1972 now costs us 440 Ibs. of bananas or 24 Ibs. of coffee...
...Justice Department stepped up its efforts to return Vesco to the U.S. The department withdrew its request for his extradition and urged Costa Rica instead to expel him, hoping to nab him as he crossed the border. The strategy misfired. When Costa Rican President-elect Rodrigo Carazo threatened to cut off the financier's residence privileges, Vesco escaped to the Bahamas, where he now resides, safe from extradition...
...defunct I.O.S. Ltd. mutual fund empire, Vesco fled from the U.S. to Costa Rica in 1972. He is now ensconced as a gentleman farmer on a 4,000-acre country estate with his wife and children. Threatened with deportation once Costa Rica's President-elect, Rodrigo Carazo, takes office in May, Vesco applied for citizenship, listing his nationality as Italian (he was born in Detroit but claimed the nationality of his father). Trouble is, Italy and Costa Rica never bothered to sign a peace treaty after World War II and, according to Costa Rica's Attorney General...
During the campaign, Carazo at tacked the ills that had accumulated during eight years of National Liberation rule, including proliferating bureaucracy, reckless government spending and creeping socialism. Another issue was outgoing President Daniel Oduber's connections with Robert L. Vesco, the expatriate U.S. financier who fled to Costa Rica in 1972 to avoid facing U.S. charges of embezzling $224 million from a Geneva-based mutual fund he controlled. Carazo vowed to have Vesco expelled "for the nation's health." But Carazo's victory mostly reflected the voters' concern about the danger of continuismo, the permanent entrenchment...
...maintain order but confines the rest to their barracks. The tribunal also oversees a highly refined campaign-financing system. Before the campaigning begins, the treasury distributes funds to the parties according to a formula based on the number of votes they got in the previous election; one of Carazo's triumphs was the fact that his Unity Party managed to win even though, at $353,000, its campaign kitty was one-seventh as large as the Liberation Party...