INTERNATIONAL

Argentine Economic Pact Signed: Argentina’s government and industrial leaders signed an agreement aimed at holding down prices while encouraging investment, production and employment. The pact, initialled by President Carlos Menem and Israel Mahler, head of the Argentine Industrial Union (UIA), included a government commitment to provide credit and energy charges at international rates and reform labor laws that raise the costs of hiring and firing workers. In turn, the UIA pledged to increase investment and production, create new jobs and cooperate with the authorities to cut tax evasion.