Word: velasco
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Actually, the sales had been suspended last February with the seizure of the first U.S. boat. Peru's Dictator General Juan Velasco Alvarado was informed privately that the Pelly amendment to the Foreign Military Sales Act of 1968 left Washington no alternative. For some reason, Velasco had neglected to inform his countrymen, and last week's disclosure from Washington brought a rush of questions in Lima. Velasco held a twelve-hour huddle with his Cabinet and produced a six point communiqué. If the ban on shipments is officially confirmed, it read, then the U.S. military missions currently...
...blinked,"said a U.S. official in a back ground observation that was later contradicted by the State Department. Gen erally, however, the U.S. received the kind of welcome hemispheric hoorah that it seldom hears these days. Peru's President and junta head man, Juan Velasco Alvarado, greeted the news with a joyous statement: "Is this, or is this not, a benefit for the country...
...Mexican assistance, and is ripping down Esso gas-station signs in favor of its own brand name Petroperu. Nor does the Nixon Administration quibble with the reimbursement-at $71 million-that Peru is willing to pay. But the U.S. firmly opposes the blue-sky figure of $690 million that Velasco insists is owed Peru for 44 years of oil theft, and against which he is determined to apply whatever reimbursement IPC is finally allowed. Says Lawyer John N. Irwin, who has been representing the U.S. in negotiations on the impasse: "The declaration of such debts after the expropriation...
...underpin Peruvian industry and trade with about $150 million in loans; these funds have been reduced sharply since the expropriation arguments began. Another potential $700 million in U.S. private investment in Peru, mostly in copper mining, is being held up until the issue is settled. Advisers have rightly warned Velasco that such losses are more detrimental to Peru's economy than the withdrawal of U.S. aid. However, as one puts it: "Getting Velasco interested in the economy is like getting a Buddhist monk interested in water-skiing." Conversations on the problem-Peru refuses to term them negotiations-resume shortly...
...Nixon Administration would like to prevent a crisis by finding a way to avoid invoking the amendment. It has managed to extend the deadline for ending aid by five days. General Velasco could release the U.S. from its duty by agreeing to a negotiated settlement, but he can hardly back down under U.S. pressure without destroying his own reputation. It was largely because President Belaúnde had failed to crack down on IPC, and thus defy the U.S., that Velasco was able to whip up popular support for his military takeover. The support continues, as far as Velasco...