Word: reformations
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Dates: during 1960-1969
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Show of Force. Lacking a magic button to push, Nasser has done the next best thing. The new Premier whom he appointed last September to replace left-leaning Ali Sabry has begun a reform of Egypt's stagnant economy, and Nasser has so far given him full support. To increase government revenue, Premier Zakaria Mohieddin has sharply raised Egypt's inadequate personal income tax and has added a "defense tax" on all sales to help defray military costs. He has jacked up tariffs on nonessential imports to save foreign exchange. He has also hiked the cost of luxury...
...waiting for my son to have a better life-I want a better life." So says a member of President Fernando Belaúnde Terry's Acción Popular party. He was talking about Belaúnde's land-reform program-the sensible, carefully thought-out plan that, when it was signed into law 19 months ago, was hailed by experts as the soundest ever set up in the hemisphere. For many Peruvians, the rub is that the project to settle 1,000,000 peasants on their own land and double the country's acreage under...
...weeks ago a highland district reform commissioner suddenly declared afectada (destined for expropriation) one of the most efficient ranch operations in the country: 440,000 acres owned by Cerro de Pasco Co., Peru's copper giant. Cerro officials reacted first with disbelief, then outrage when government officials refused to reconsider. In bypassing scores of marginally operated highland estates, said Cerro, the government had violated the spirit, if not the precise letter, of its own law. The company pointed out that its sheep produce three times as much meat as the neighboring Indian herds; furthermore, it ran the ranch...
Down By a Third. Belaúnde's government is well aware of the dangers involved in wholesale land giveaways. Mexico and Bolivia both experienced sharp drops in agricultural production when they went in for helter-skelter land reform; the Cuban economy is still reeling from Fidel Castro's mismanagement of the sugar lands. In Peru's own case, an efficient, 511,500-acre ranch near the Cerro lands was purchased two years ago by government officials, who parceled out most of it among 14 land-hungry Indian communities. Since then, 100,000 of the ranch...
...Reform & Recession. That may be just what Brazil needs, considering the way Castello Branco's government is running the country. When the revolutionaries took over in April 1964, Brazil was approaching bankruptcy, with foreign-exchange reserves of less than $150 million, and a cost of living that was soaring at the fantastic rate of 144% a year. By last week Brazil's foreign exchange was back to a safer $300 million, and the inflationary price rise had been cut more than two-thirds to 45% for 1965-"still pretty bad," says one Washington official, "but for Brazil that...