Word: guatemala
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Dates: during 1960-1969
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Learning Means Earning. Limiting itself to Costa Rica, Guatemala, Honduras, Nicaragua and El Salvador, the C.E.D. gave them high marks for forming a common market in 1960. "Central America has one of the most advanced movements towards economic integration to be found anywhere in the less developed world," noted the report. From 1950 to 1962 the gross national product in each country increased an average 4.5% each year: exports went up an average annual...
...Salvador, burly Army Colonel Julio Rivera took power three years ago; he has now been freely elected constitutional President, is breaking the hold of the aristocracy and improving the lot of the peasants. "Only by giving liberty with reforms," says Rivera, "can we demonstrate that Fidel is a fraud." Guatemala's junta of colonels has given the country its biggest-and most surprising-boom in history. In Brazil, the question was not whether Leftist Joao Goulart would lead Latin America's biggest nation into civil war-but when. Under Humberto Castello Branco, a retired army general, the country...
Peralta turned to the country's businessmen, asked them what to do, and took their advice. He promoted new trade agreements with his neighbors, offered low-cost credit to farmers, expanded cotton production on Guatemala's rich Pacific slope. "That land is so rich in nitrogen," says one cotton grower, "that you could sack it and sell it for fertilizer." This year's income from Guatemala's major crops-coffee, cotton and bananas-should reach $134 million, 35% more than...
...with Central American common market countries. Business responded. Arrow Shirts, Colgate-Palmolive, and General Mills, for example, plan expansion of their facilities. And there are newcomers. International Nickel hopes to set up a $60 million strip mine, Texaco is building a $10 million refinery, and Kern Foods is making Guatemala its distribution center for Central America...
Last year the G.N.P. rose 7% to a high of $1.2 billion, and in the last eight months alone savings deposits climbed 26%. Some money is actually going begging. "There's one bank in Guatemala," says Banker Julio Veilman, "that has $5,000,000 in excess funds that it can't place." Certainly, Guatemala is not without social and political problems. Of its 4,500,000 people, 3,900,000 still live in the country's corrugated outback. They are mostly broad-faced descendants of the Maya Indians, and every year more and more of them drift...