Word: rez
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...turned out, Venezuela had a few creative ideas of its own about how to share the wealth. This week, at Pérez's invitation, the leaders of six Central American nations will gather in Caracas for an economic summit. At the meeting, he is expected to detail plans to help Venezuela's smaller neighbors by 1 ) compensating them for holding back part of their coffee harvests in order to raise prices, 2) providing subsidies to countries particularly hard hit by the rise in oil prices, and 3) giving direct financial aid to economically depressed nations that need...
...Caracas summit symbolizes Venezuela's new position as an emerging power in Latin America. More particularly, it also signals the emergence of ebullient, indefatigable "Cap" Pérez (see box page 48) as a Hemisphere states man to be reckoned with. Now 52, Pérez began his political career at the age of 23 as personal secretary to Rómulo Betancourt - then President of the revolutionary junta that ruled from 1945 to 1948. When Betancourt's Democratic Action Party was outlawed in 1948 by the military dictatorship led by Marcos Pérez...
...rez campaigned on the platform that his election represented the "last chance" for democracy in Venezuela.* What he meant was that Venezuela was in grave danger of splitting into two an tagonistic nations - one rich, the other hopelessly poor. One of these nations consists of a foreign-educated elite in Caracas, accustomed to air-conditioned Mercedes, plush skyscraper offices and country-club amenities. The other Venezuela includes more than 800,000 mi grants who have left the country's poor rural areas to make their homes in the tar-paper shacks that cling to the hills around the capital...
Operating under emergency powers granted him by Venezuela's legislature, Pérez has issued more than 100 decrees in the past nine months aimed primarily at creating jobs for the some 600,000 Venezuelans (nearly 20% of the work force) who are either unemployed or underemployed. Some of the measures are obviously stopgap. To create immediate job openings, for example, the government decreed that all automatic elevators be manned by operators and that all public restrooms be staffed by attendants. In addition to such piecemeal legislation, however, Pérez launched several ambitious long-term projects designed...
...tracts of potentially productive farm land, agriculture has been so mismanaged that the country will have to import $450 million worth of food this year. To curtail a rural exodus that has already concentrated 78% of his 12 million countrymen in the nation's major cities, Pérez has offered incentives to lure people back to the fields. The government promised to assume past debts incurred by small farmers. It also removed price restraints on most agriculture products and established a $467 million fund to provide low-cost loans for purchases of farm machinery...