• Short Summary

    The government of General Hugo Banzer has announced new regulations to put an end to economic uncertainty and speculation in food supplies.

  • Description

    The government of General Hugo Banzer has announced new regulations to put an end to economic uncertainty and speculation in food supplies. The most important measures are Government-controlled increase in the price of meat, flour and coffee, and a salary bonus of 120 pesos (about six U.S. dollars) monthly for all workers.

    The main aim of this 'economic package' is to prevent hoarding of food-stuffs by shop-keepers and householders. But its effect has been to inspire panic buying of other necessities, such as sugar, rice, milk and oil. Long queues have been forming -- especially in La Paz, where prices have been rising moire steeply than elsewhere. The government has passed measures punishing shop-keepers who refuse to sell stocks of basic foodstuffs and has mobilised the army to check speculators. There has always been a flourishing contraband market in Bolivia operating outside the official retail outlets.

    Bakers are refusing too bake break for sale even at the new increased price. They say that it still does not cover the rise in production costs.

    In October last year there was a forty per cent devaluation of the peso against the U.S. dollar. The cost of living is calculated to have gone up at least 70 per cent in the last year.

    SYNOPSIS: The Bolivian Government under General Hugo Banzer has recently approved measures to end uncertainty about increased price and profiteering caused by a food shortage.

    The most important measures are an authorised and government-controlled rise in the price of meat, flour and coffee, end a monthly bonus of a hundred and twenty pesos -- six U.S. dollars -- for every worker.

    The main aim of the measures is to prevent hoarding against continually rising prices, but its effect has been to inspire panic buying of other basic commodities such as sugar, rice, milk and oil.

    Bakers have said that even the allowed price increase does not cover increased costs and some of them have refused to bake bread.

    Last year there was a forth per cent devaluation of the peso against the U.S. dollar, but it has failed to check the rise in prices.

  • Tags

  • Data

    Film ID:
    VLVABOWSXKWGFX5JJ988T0J7IZ4KB
    Media URN:
    VLVABOWSXKWGFX5JJ988T0J7IZ4KB
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    23/10/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:05:00
    Time in/Out:
    /
    Canister:
    N/A

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