Word: venezuela
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Dates: during 1980-1989
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...most prominent of the diplomatic initiatives has been that of the Contadora group, composed of Mexico, Colombia, Venezuela and Panama, and named for the Panamanian island where its representatives first met in 1983. But the Contadora process up to now has proved no more successful than has throwing money at the contras. The Reagan Administration rejected a proposed treaty drafted by the group in 1984 that would have required the U.S. to break off its support of the rebels as well as its military assistance to El Salvador and Honduras without demanding any democratic reforms in Nicaragua...
...State George Shultz and Treasury Secretary James Baker. Meanwhile, Peru suddenly withdrew its gold, silver and cash reserves from U.S. banks to prevent any effort by Washington to freeze them. When foreign ministers and finance chiefs from five major debtors--Brazil ($104 billion), Mexico ($97 billion), Argentina ($49 billion), Venezuela ($32 billion) and Peru ($14 billion)--gathered late in the week near the Uruguayan seaside resort of Punta del Este for an emergency meeting, they drafted an urgent plea for more lenient terms from Western banks...
...fall of oil prices has drained other South American petroleum producers too. The plunge has soured the comeback hopes of Venezuela, which relies on crude sales for 90% of its export income. A predicted loss of roughly $2 billion in oil revenue for 1986 forced Venezuela last week to ask for last-minute concessions in an agreement it signed with international bankers for rescheduling payments on $21.2 billion of the country's debt...
...TRAGEDY OF the administration's position is that a policy of non-negotiation is not the only approach to the Nicaraguan situation. The Contadora group--Mexico, Colombia, Panama, and Venezuela--has recently resurfaced after a period of inactivity to offer a plausible alternative to this brutal approach. Ministers from the four Contadora nations met last month with officials from Brazil, Argentina, Peru, and Uruguay to issue a joint statement calling for a negotiated settlement to the Nicaraguan...
...increasingly restive about the austerity measures that were imposed by the government of President Miguel de la Madrid to meet debt payments. About 35,000 people joined a protest march last week in Mexico City. Said one banner: MORATORIUM ON THE DEBT. THE PEOPLE HAVE HAD ENOUGH. By comparison, Venezuela's President Jamie Lusinchi should experience less trauma because his country's debt, at $35 billion, is smaller...