Word: nde
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...Amid the current "genuine excitement in Peru," my wife and I worked for three years as Papal Volunteers for Latin America. We were pleased with TIME'S tremendous coverage of Peru's new conquest. Would that more of President Belaúnde's aristocratic countrymen were awakened to the adelante spirit his administration has created...
PRESIDENTE BELAÚNDE Lima...
Vivan los Beatles! The ideas cost money-and lots of it. But Peru's economy is coming on strong. Nurtured along by Belaúnde's firm hand, the gross domestic product expanded 8% last year to a record $3.5 billion, exports vaulted 23% to another high of $667 million, and per-capita income rose to a record $250 (v. $225 overall for Latin America...
...Inflation. The biggest foreign investment, however, is still in the form of U.S. aid. Last year the country was granted a record $86.8 million in Alianza help, four times the 1960 aid package. Belaúnde still impatiently complains of all the delays and red tape in disbursing funds. "Peru is being studied to death," he recently told U.S. officials. "We have pre-surveys, pre-pre-surveys, pre-investment surveys, pre-pre-investment surveys. Committees of experts study us. Everybody studies us, and in spite of all these studies, Peru is moving ahead...
...suspects that the U.S. drags its feet just a little because of his bitter wrangle with International Petroleum Co., the Standard Oil of New Jersey affiliate that operates Peru's richest oilfield on the north coast near the Ecuadorian border. Shortly after his election in 1963, Belaúnde yielded to nationalist demands and canceled I.P.C.'s 39-year-old concession. He has yet to reach a settlement. Peru's anti-Yanquis demand outright expropriation. Belaúnde's better sense tells him that the government could not run the field profitably. "Around here," says...