Word: latinized
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Dates: during 1980-1989
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...trying to reform and perhaps even redeem El Salvador, he told one group, "I'm putting my life on the line." In 1972 he was imprisoned and beaten by the army he will now lead. Democratic Congressman Clarence Long of Maryland, a leading critic of Reagan's Latin American policies, was persuaded. "He's been tested and he's courageous," he said of Duarte. "He's our kind...
Support for Contadora came from another quarter last week. Echoing De la Madrid's assessment, the Inter-American Dialogue, a privately funded group of U.S. and Latin American diplomats, businessmen and academics, concluded in an 87-page report that "the roots of insecurity in the hemisphere and particularly in Central America are primarily economic, social and political." The solutions, it added, "lie in economic and social development and political dialogue, not in more weapons and military advisers." The study, prepared under the direction of Sol Linowitz, former U.S. Ambassador to the Organization of American States, encouraged direct negotiations between...
Despite the attention given to Central America, De la Madrid's main purpose in Washington was to discuss the hemisphere's economic plight. He argued that economic recovery throughout Latin America is being hampered by high U.S. interest rates and protectionist measures that keep out many of its products. De la Madrid stressed that Latin America's $335 billion foreign debt, of which Mexico's $85 billion is second only to Brazil's $96 billion, poses a potentially worse problem for the U.S. than the turmoil in Central America. The reason: many countries are being...
...interest hikes so far have made it even tougher for troubled borrowers to repay their debts. Reason: the rates they pay generally fluctuate with the prime. Among those hardest hit by the rising interest costs have been Latin American and other developing nations, which owe a staggering $810 billion to Western lenders. To keep the borrowers from defaulting, some moneymen, including Chairman Volcker, have suggested that banks consider placing a cap on the interest on their Third World loans...
...next big test for a Latin debtor will come in June, when Argentina faces $1.6 billion in payments. Only a complex bailout by the U.S. and Argentina's neighbors kept the country from missing a deadline last March and forcing the banks to cut their earnings. Before more funds can be released, however, Argentina and the International Monetary Fund must reach agreement on what promises to be a painful austerity program for that country. Predicts an American banker in Buenos Aires: "It's going to be a very close race to get together with the IMF by June...