The World - News from Dec. 12, 1988
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Cutting Latin America’s $435-billion debt is the only way to ensure the survival of democracy in the region, seven nations said at the start of a debt meeting in Rio de Janeiro. Finance and economy ministers of the so-called Rio Club--Argentina, Brazil, Colombia, Mexico, Peru, Uruguay and Venezuela--will discuss proposals for debt reduction through the end of the talks today. There is a strong feeling in Latin America that the need to cut the debt has never been so urgent. Falling living standards and economic stagnation threaten the survival of the young democracies that have replaced military dictatorships in several countries in the region.
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