Word: latinized
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Dates: during 1980-1989
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...receive the new loans, to make sure the funds are used for economic changes that will stimulate long-term growth. One specific U.S. prescription: the debtor nations should turn over many state-run operations to the private sector. Says Rimmer de Vries, chief international economist for Morgan Guaranty Trust: "Latin American countries have relied far too much on government enterprises, which are usually inefficient, bureaucratic behemoths." The debtors must also take measures to slow down their capital flight so that money from the new loans does not simply go into foreign bank accounts. The classic example is Mexico, which lost...
...certain extent, Baker's moves have been dictated by necessity. He came to recognize that the Latin debtors needed more help than they were getting. It was hardly good policy to push austerity programs that fostered social unrest in Latin America at a time when the U.S. was fighting Communist- backed revolutionaries in the same area. Former Secretary of State Henry Kissinger, contending that the monstrous debts pose a grave threat to South - America's democracies, has called for "the contemporary equivalent of the Marshall Plan." Kissinger praised Baker's plan as a "major departure," but cautioned, "I feel that...
...Said Finance Minister Luis Alva Castro: "We do not accept there being a single country that is subject to no control whatsoever while the countries of the Third World are condemned to hunger." Even so, Brazil's Minister of Finance, Dilson Funaro, whose country is the biggest Latin American debtor, said that he was "very optimistic" about the plan and that it was "a good...
Some protesters even performed student skits designed to demonstrate CIA wrongdoing in Latin America. The Nicaraguan Affinity Group sponsored a skit which portrayed CIA agents as trenchcoated communist killers who accuse and kill an innocent Nicaraguan school teacher...
...group of Economics Department graduate students appear to have dodged the United States embargo on trade with Nicaragua by setting up a charity fund for the Latin American nation...