Word: latinized
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Dates: during 1980-1989
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...with Duarte's army. While he refused to rule out direct U.S. military intervention in El Salvador, he raised good arguments against it. "President Duarte made it very plain that they would never request American troops," Reagan said, and added, "Look at all our friends and neighbors in Latin America. . . we'd lose all those friends and neighbors if we did that...
...Manufacturers Hanover's mountainous pile of Latin American loans that made it a target for rumors. The $6.5 billion that it has extended to the region's four biggest borrowers represents 10% of the bank's total assets. If a wave of defaults by Latin American borrowers were to take place, Manufacturers Hanover would be in a very difficult situation...
Speculation about a possible Latin American debtors' cartel that would try to dictate new loan terms to bankers has added to the jitters. In a joint statement last week, the Presidents of Brazil, Mexico, Argentina and Colombia complained that the interest rates they are being charged have reached intolerable levels. Said the four: "We do not accept seeing ourselves forced into a situation of insolvency and continuous economic crisis." While some American bankers insist that the formation of a cartel is unlikely, other moneymen remain fearful...
...Latin debt crisis took another turn at week's end when the Dominican Republic broke off talks with the International Monetary Fund. The move jeopardized the Caribbean nation's ability to renegotiate its $2.4 billion in foreign debt, because lenders have insisted that it first reach agreement on an austerity program with the IMF. But Dominican leaders, fearful that IMF demands for a sharp hike in gasoline prices would spark a new round of violent protests, decided to quit the talks...
...gargantuan federal deficit, a plunge in the dollar's value, a cutoff of Persian Guff oil supplies, and increasing turmoil in the financial industry as a result of the near collapse of the Continental Illinois Bank and the continuing troubles that major banks are having with loans to Latin American countries...