Word: rauling
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Since coming to power in 1983, Argentine President Raul Alfonsin has tried a variety of economic programs in an attempt to control inflation, now steaming ahead at an annual rate of 1,010%. While well intentioned, his efforts have generally been viewed with the same skepticism that attends an inveterate smoker's vow to quit even as he reaches for his third pack...
Unfortunately, not all Argentines were so enthusiastic. Several labor leaders charged that the wage freeze hurts their members, and one union official openly threatened to sabotage the economic plan. "We have no choice but to take some kind of action," said Raul Ravitti, the secretary of the railroad union. That attitude has blocked attempts to halt inflation in Argentina for years...
...bankers have little reason to rest easy, however. To satisfy the IMF, Argentina made promises that will be very hard to keep. The country pledged to slash its 1,010% inflation rate to 150% by next spring. To help do that, the government of President Raul Alfonsin agreed to cut public spending by 12%, to hold wage hikes to only 90% of inflation and to set up a new unit of currency called the austral that will be worth 1,000 old pesos. Such measures could increase social unrest, but Alfonsin seems determined to see them through. Said...
...same time, however, President Raul Alfonsin's determination to come to grips with the past has confronted him with a major dilemma: he must honor his commitment to democracy and a citizenry's clamoring for justice by punishing the guilty among the soldiers, yet he cannot afford either to destroy or to alienate the 60,000-strong career military...
Argentine President Raul Alfonsin appeared angry and fatigued when he addressed a national television audience from the presidential residence last week. His assertion was startling: his political enemies had tried to involve high-ranking military officers in planning a coup d'etat. Leaning across his desk, the President reassured his countrymen: "The situation is under control by the constitutional government." Alfonsin urged Argentines to rally "in defense of democracy," a call that was answered at week's end by an estimated 170,000 people gathered in Buenos Aires...