Word: lusinchi
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...nearly two-thirds of its $35 billion foreign debt last February than plummeting oil prices made the agreement obsolete. The free fall is knocking at least $5 billion off the country's petroleum revenues, which account for more than 90% of its foreign exchange, and could force President Jaime Lusinchi to return to bankers to seek better terms. With the country now in the third year of a recession, Lusinchi has little political room to maneuver. He has already promised that a job-creating $5 billion public-works program will not be touched. Venezuelans are counting on their nation...
...austerity measures that were imposed by the government of President Miguel de la Madrid to meet debt payments. About 35,000 people joined a protest march last week in Mexico City. Said one banner: MORATORIUM ON THE DEBT. THE PEOPLE HAVE HAD ENOUGH. By comparison, Venezuela's President Jamie Lusinchi should experience less trauma because his country's debt, at $35 billion, is smaller...
...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...
...Once again the Pope was airborne, setting forth this time on a strenuous twelve-day "pilgrimage of hope" to Latin America. Arriving at Caracas' Simon Bolivar Airport under a warm afternoon sun, the Pontiff, his white robe flapping in the soft Caribbean breezes, was greeted by Venezuelan President Jaime Lusinchi. Waving to the crowd, the Pope traveled in his converted Land Rover Popemobile along a twisting hillside road into the capital...
...many other official dinners, as well as an additional 250 official White House functions, the picture-perfect but surely enervating flurry of luncheons, teas, receptions. Such occasions require a deep well of small talk and unwavering poise. Last month, at a dinner in honor of Venezuelan President Jaime Lusinchi (chicken breast Sandeman, poached salmon, radicchio salad and glazed pear), Nancy Reagan sat dutifully on the visitor's left--and when Lusinchi's bow tie slid askew, she smiled, reached over, and refastened the clip-on without skipping a beat...