Word: ecuador
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Dates: during 1980-1989
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...errant Catholic thinkers "with charity and firmness." Too many theologians, said the Pope, "proclaim not the truth of Christ but their own theories," a theme that may recur during the current journey. By the end of his 18,500- mile trip, John Paul will have flown from Venezuela to Ecuador to Peru to Trinidad and Tobago, delivered 44 other speeches, lunched with steelworkers, met upcountry Indians and visited a sector of Peru rife with Maoist guerrillas...
Uruguay thus became the latest country in Latin America to replace dictatorship with democracy over the past few years. Others include Argentina, Bolivia, Ecuador, El Salvador, Honduras, Panama and Peru. Brazil and Guatemala might join the democratic club next year. In Washington, where Sanguinetti is viewed as a moderate who favors close ties with the U.S., a State Department spokesman praised "the manner in which the elections were conducted...
...Hello, Banana? Change money?" That sales pitch, unusually direct for China, was routinely delivered last week by jeans-clad youths outside Peking's Jianguo Hotel. The bananas, mostly imported from Ecuador, were the vendors' customary, and legal, merchandise. The offer to trade currency was neither normal nor legal-especially since the trade was 150 Chinese renminbi for 100 of the foreign-exchange certificates issued to non-Chinese that are officially valued...
...deeply indebted oil-producing countries, including Venezuela, Indonesia and Ecuador, a decline in prices would be painful. In Mexico, which depends on petroleum sales for 70% of its exports, a $2-per-bbl. price cut would produce a $ 1.1 billion drop in an annual oil income of $15 billion. Thus Mexican officials accompanied Yamani on his travels last week even though their country is not an OPEC member. Yamani announced that both Mexico and Egypt said they would cut their own output in support of OPEC's plan...
...week began, Ecuador proclaimed that it was suspending payments on part of its $6.7 billion debt. Though Ecuador's loans are small in relation to the $350 billion owed by Latin America as a whole, the announcement was disturbing because the country seemed to be playing a me-too game. Less than a week earlier, Bolivia had said it would suspend interest payments on some of its $3.4 billion debt. Some bankers feared that this defiance could keep spreading to other countries...