Eleven Latin American nations, who between them we owe an estimated 315 billion US dollars in foreign debts of talks in Cartagena, on June 21.
1. GV & Svs President Belisario Betancur speaks to conference. (SOT) (8 SHOTS) 1.05
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Background: CARTAGENA, COLOMBIA
Eleven Latin American nations, who between them we owe an estimated 315 billion US dollars in foreign debts of talks in Cartagena, on June 21. The meeting, called by finance and foreign ministers, was aimed at reducing sharp political and economic differences and also at forging a consensus on steps to ease the region's debt crisis. Among the countries represented were three of the developing world's largest debtors, Brazil, Mexico and Argentina. A two-day preparatory session produced a document, calling for dialogue with creditor countries and financial institutions, and setting out alternative repayment plans. The proposals included lower interest rates, longer refinancing periods and access for Latin American exports to world markets, a point taken up by Colombian President Belisario Betancur in his opening speech. The eleven nations, represented at Cartegena were Argentina, Bolivia, Brazil, Chile, Colombia, the Dominican Republic, Ecuador, Mexico, Peru, Uruguay and Venezuela. Ecuador's Foreign Minister Luis Valencia Rodriguez warned that the conference would be a dismal failure if it failed to agree on precise proposals to put to creditors. And referring to a letter sent by seven Latin American presidents to the recent London summit of industrialised nations, he said the response to the region's situation had been disappointing.
Source: TV HOY COLOMBIA