• Short Summary

    The new Argentine regime of General Videla, which banished President Maria Estela Person in March, has pledged itself to curing the nations economic and political ills -- but the first measures have sent prices soaring.

  • Description

    The new Argentine regime of General Videla, which banished President Maria Estela Person in March, has pledged itself to curing the nations economic and political ills -- but the first measures have sent prices soaring.

    Economy Minister Jose Martinez de Hoz decided to freeze wages but free prices, both had been frozen for a long time under the Peron administration. The move has restored business confidence in Argentina, finished the currency black market almost overnight and stopped Argentina from being the bargain country for South American tourists -- but it has hit Buenos Aires' and other Argentina housewives badly.

    Inflation is expected to total 600 per cent this year. Argentina is one the verge of defaulting on its foreign debts for the first time and the budget deficit left by the Peronists has been reported at 95 per cent -- but even if the new measures cause hardship for the housewife, most Argentines seem to be behind the new regime. The feeling appears to be that at least something is finally being done - and this has been reflected on the three tourist market where the peso has rallied strongly from over 300 per US dollar before the coup to 220 three weeks later.

    Argentine newspapers are carrying regular columns telling housewives where they can buy cheaper food. But so far there has been no organised complaint although the junta has temporarily banned strikes and suspended some of the most politically active Labour unions.

    General Videla has a reputation of being an austere, strictly moral, man. Hundreds of Peronists high and low have already been arrested and will be tried for the corruption so widespread under the deposed administration. They range from Senora Peron herself to local tax inspectors, and for the moment Argentines - who have been so sorely let down by past administrations - are prepared to watch, wait and give General videla a chance.

  • Tags

  • Data

    Film ID:
    VLVA3BX5VS0G7VB5A2ZOV5179GEGA
    Media URN:
    VLVA3BX5VS0G7VB5A2ZOV5179GEGA
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    05/05/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:51:00
    Time in/Out:
    /
    Canister:
    N/A

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