Word: valencias
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...months, the problems of Colombia have been growing from serious to worse. Under President Guillermo León Valencia, the cost of living has soared 50%, the country's foreign debt has doubled to $750 million, unemployment is rising dangerously, and a wave of Castroite kidnapings has terrorized both city and countryside (TIME, March 19). Now all of these pale beside a grave new political concern. Colombia's National Front, formed in 1958 to make peace between the warring Liberal and Conservative parties, is in danger of imminent collapse...
President Guillermo León Valencia denounced the Inza raid as "violence financed from international fields," sent 1,000 anti-guerrilla troopers chasing after the killers. Even as the man hunt was underway, new terror struck nearby. Kidnapers seized Harold Eder, 61, one of Colombia's richest and most influential industrialists, from his ranch near Cali, beheaded Eder's police bodyguard, demanded 2,000,000 pesos (about $145,000) ransom, the highest sum in the sordid history of Colombian kidnaping...
Many observers blamed the job on Tiro Fijo, though the army somewhat lamely insisted it was the work of a local smalltime bandit. President Valencia sent 3,000 more troops into the area, but at week's end Eder was still captive and Tiro Fijo still free. Nervous Colombians feared that their torn country was headed for a new era of Communist-inspired violence and that the government was unable to do much about...
...million since 1961), and under the steady hand of former President Alberto Lleras Camargo, the country's Liberal and Conservative parties called a truce in their senseless civil war and pushed through an impressive series of reforms. Under the current President, Guillermo León Valencia, army civic action programs and anti-guerrilla campaigns have sharply reduced poverty-fed banditry in the backlands. That is Valencia's major success. During his 31 months in office, the cost of living has risen 45% , unemployment is up to 10%, and foreign investment to diversify the coffee and mining economy...
Lately, rumors have been going around Bogota that Ruiz Novoa was planning a coup-though he vehemently denied it. The opportunity was supposed to be a general strike called by the unions to protest a broad new sales tax. But the strike, attempted two weeks ago, fizzled completely, and Valencia used the occasion to fire his contentious war minister, charging that Ruiz Novoa's policies were splitting the armed forces. Into his place went General Gabriel Rebeiz Pizarro, 49, second man in the military hierarchy and the one who made the charges against his boss to Valencia...