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The World

September 28, 1986

Peru will devalue its currency early next year, the government announced, and teachers, bureaucrats and non-unionized workers in private industry will get an immediate pay raise. President Alan Garcia, according to news reports, said the government will not be able to continue to support the exchange rate for its currency after Dec. 31. Garcia also said he will ease price controls on many items and let their value be determined by supply and demand.

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