Word: hurtado
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...great President." Colombians evidently agreed. When the May 25 ballots were tallied last week, Barco was elected by the largest landslide in the country's history. The M.I.T.-trained engineer, who monitored the results on his computer terminal, won 58% of the vote, vs. 36% for Conservative Alvaro Gomez Hurtado. Said Political Scientist German Rodriguez: "The people want a manager and statesman, not an orator...
Mexican government officials have been pressing U.S. banks and other lenders to relax their terms and extend to the country at least an additional $4 billion in new loans. President Miguel de la Madrid Hurtado warned that bankers must share "the responsibility and sacrifice" of solving Mexico's financial ills. So far, though, creditors have been wary of risking new money...
Mexican President Miguel de la Madrid Hurtado declared in a speech Feb. 21 that his government can tighten its belt no further and that it is time for some "sacrifices" from international bankers. The President proposed that Mexico's payments be reduced to what it can afford, but he offered few specifics. Some Mexican officials have hinted that the country wants a stretched-out repayment schedule and a reduction in the average interest rate on its loans from 10% to 6%, which would reduce its annual debt-service load by $4 billion a year...
...real one." So said Mexico's Finance Minister, Jesus Silva Herzog, as he emerged from a conference on the international debt crisis in London last week. Silva Herzog was not alone in that assessment. In the Caribbean resort town of Cancun, his boss, Mexican President Miguel de la Madrid Hurtado, was closeted for 13 hours with Venezuelan President Jaime Lusinchi to discuss the plummeting world oil prices that are squeezing their heavily indebted economies. The two issued a communique expressing their "profound concern" over conditions in the oil market, which, they said, created "an extremely unstable situation...
...will not pay its foreign debt with recession, not with unemployment, nor with hunger." Peru's President Alan Garcia Perez, whose country owes $14 billion, has threatened to pull out of the IMF unless the agency gives his country more breathing room. Mexico's President Miguel de la Madrid Hurtado took a similar, if less militant, stand. Even before the deadly earthquake hit last month, his country was beginning to have difficulty limiting its spending enough to meet IMF guidelines. The disaster caused as much as $4 billion in damage and amplified Mexico's need for more...