Word: lusinchi
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Dates: during 1980-1989
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...presidential residence, La Casona, would be getting a new tenant. By a thumping 8-to-5 margin, voters had ousted the centrist Social Christian Party in favor of the country's strongest grass roots political force, the center-left Action Democratica under its amiable, soft-spoken leader, Jaime Lusinchi, 59. Said an exuberant Lusinchi after the vote...
Economics loomed large in Lusinchi's campaign and in that of his Social Christian opponent, Rafael Caldera, 67, who served as President from...
Advised by U.S. Media Consultant Jo seph Napolitan, Lusinchi blamed outgoing President Luis Herrera Campins, 58, for all of Venezuela's many economic woes. Among them: a 4.5% drop during Herrera Campins' tenure in the country's gross domestic product ($69.3 billion in 1982) and a current unemployment rate of 20%. The key problem, however, is a foreign debt of about $34 billion, the result of years of uncontrolled government spending that eventually coincided with sharply reduced revenues from oil, Venezuela's principal foreign-exchange earner...