Word: guatemala
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...specifics about such policies were left unexplained. But Kennedy did seem to satisfy the Central American Presidents, some of whom have been for far stronger action against Castro than the U.S. has ever suggested. Said Guatemala's President Miguel Ydigoras Fuentes. 67, after talking to Kennedy: "This young man seems to know what he wants and where he is going...
...uprisings in this century, far below par for Caribbean nations, its elections are so free that since 1948 the opposition party has won every time. As a whole. Central America has responded smartly to U.S. prodding toward economic cooperation. Its own Common Market includes Costa Rica, El Salvador, Honduras, Guatemala and Nicaragua, which have knocked out 95% of the restrictive tariffs that existed between them. It has set up an effective regional bank and has made some 54,000 agricultural loans...
...staid old institution that makes money by making money. The oldest and richest of the three U.S. firms that still print bank notes, it is a sort of job-lot treasurer that churns out paper money for 55 nations around the world, including Colombia, Ecuador, Brazil, Mexico, Egypt and Guatemala. From its presses last year 25 million stock certificates and 7.5 million bonds, all the travelers' checks for American Express and four other firms, corporate checks for more than 2,000 of the nation's largest firms, and postage stamps for 65 nations...
...years ago, in open imitation of Europe's Six, five nations of Central America-Honduras, Guatemala, El Salvador, Nicaragua and, later, Costa Rica-set up their own common market. But, unlike its European model, the Central American Common Market has poor economic soil to grow in: per capita income in its five member nations averages $200 a year, and heavy industry is almost nonexistent. Last week, at a meeting in El Salvador, the executive council of the Central American Common Market put into effect a curious plan to foster industrial growth. Henceforth, the five nations will select one company...
Named last week were the first two companies chosen for protection: GINSA, the General Tire Corp. subsidiary in Guatemala, and Nicaragua's Hercules Powder Co. insecticide plant. Both will be able to ship their products throughout the Central American market free of tariff and will enjoy the shelter of a high common tariff against competitive imports. Theoretically, there is nothing to prevent their foreign competitors from setting up plants in Central America, too, but such plants would not get the same tariff breaks. All this may well lead to rapid growth for GINSA and Hercules. But it may produce...