Word: guatemala
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Aided by the Alliance for Progress and a strong infusion of private investment, Central America's five nations are enjoying unprecedented economic prosperity (TIME, Jan. 1). Politically, El Salvador, Guatemala and Nicaragua seem headed toward more or less representative governments, and Costa Rica has become a model constitutional republic. But there is one unfortunate throwback to the old era of machine-gun politics when O. Henry described Central America as a collection of "little opéra bouffe nations that play at government and intrigue...
...rural electrical cooperatives in Kentucky is helping an Ecuadorian cooperative double its output; Wisconsin plans to send a similar shipment to Nicaragua. Idaho has sent sewing machines to an Ecuadorian orphanage where the girls learn to become seamstresses. The Junior Chamber of Commerce in Mobile, Ala., has sent to Guatemala a bookmobile and funds to build a rural school, while Santa Barbara, Calif., has provided $100,000 worth of medical equipment and Pharmaceuticals for Bogot...
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...
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...