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NEWS
March 4, 1989 | DON A. SCHANCHE, Times Staff Writer
President Carlos Andres Perez on Friday characterized the bloody price riots that took more than 300 lives in this once tranquil and wealthy nation as a largely spontaneous and nonpolitical outburst of the poor against the rich. He blamed Venezuela's foreign-debt crisis for creating the conditions that sparked the violence.
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BUSINESS
July 11, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
Already pummeled by the volatile global oil market, Venezuela's economic prospects suffered another blow this week when the government missed a payment on its short-term debt, focusing international attention on the country's deepening woes. As the No. 1 supplier of oil to the United States, Venezuela's economic and political stability is closely watched.
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BUSINESS
December 15, 1994 | From Times Staff and Wire Reports
Venezuela Financial Crisis Brings New Takeover: The country's longstanding money woes claimed a new victim with the state takeover of one of the nation's largest banking and insurance groups. Authorities had attempted in August to strengthen and pump fresh capital into Grupo Latinoamericana Progreso, which controls 15 companies in Venezuela and others in Colombia, Panama, the Dominican Republic and Puerto Rico.
BUSINESS
December 15, 1994 | From Times Staff and Wire Reports
Venezuela Financial Crisis Brings New Takeover: The country's longstanding money woes claimed a new victim with the state takeover of one of the nation's largest banking and insurance groups. Authorities had attempted in August to strengthen and pump fresh capital into Grupo Latinoamericana Progreso, which controls 15 companies in Venezuela and others in Colombia, Panama, the Dominican Republic and Puerto Rico.
BUSINESS
April 2, 1989 | ART PINE, Times Staff Writer
Imagine a Latin America ruled by leftist governments that are hostile to the United States: Debtor countries there default on loans to big U.S. banks. And some $40 billion in American exports are no longer welcome.
BUSINESS
December 26, 1990 | JUBE SHIVER Jr., TIMES STAFF WRITER
Latin America may, at last, be showing the first signs of emerging from its debt crisis, which poured red ink onto U.S. banks in the late 1980s and created a crisis of confidence in Latin economies. After a 17-month hiatus, Brazil--Latin America's largest debtor nation--announced earlier this month that it would resume interest payments on the $60 billion it owes private banks early next year.
BUSINESS
August 15, 1990 | From United Press International
Congressional investigators Tuesday charged the Treasury Department with giving Mexico a $192-million subsidy by selling it underpriced bonds to help it reduce its foreign debt. Treasury disputed the General Accounting Office allegation, saying that not only did Mexico not receive a subsidized price but that the bonds actually went for a premium. David Mulford, Treasury undersecretary for international affairs, said the zero-coupon 30-year bonds were sold at an interest rate of 8.
BUSINESS
March 21, 1990 | ART PINE, TIMES STAFF WRITER
Venezuela and its foreign creditor banks announced agreement Tuesday on a plan for trimming about one-fourth of the $20.5 billion that the country owes the 450 banks. The complex proposal, which is the result of months of negotiations, is in line with the debt-reduction strategy outlined by Treasury Secretary Nicholas F. Brady.
BUSINESS
April 2, 1989 | ART PINE, Times Staff Writer
Imagine a Latin America ruled by leftist governments that are hostile to the United States: Debtor countries there default on loans to big U.S. banks. And some $40 billion in American exports are no longer welcome.
NEWS
April 2, 1989 | DOYLE McMANUS and ART PINE, Times Staff Writers
President Bush and Venezuelan President Carlos Andres Perez agreed Saturday to begin intensive work on a plan to reduce Venezuela's $33-billion foreign debt, making the country one of the first "test cases" of America's new Third World debt strategy. U.S.
BUSINESS
July 11, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
Already pummeled by the volatile global oil market, Venezuela's economic prospects suffered another blow this week when the government missed a payment on its short-term debt, focusing international attention on the country's deepening woes. As the No. 1 supplier of oil to the United States, Venezuela's economic and political stability is closely watched.
NEWS
January 1, 1989 | DOUGLAS FRANTZ, Times Staff Writer
In a surprise move, the outgoing president of Venezuela said Saturday that the fourth-biggest debtor in Latin America is suspending principal payments on nearly all of its $30.3-billion debt to foreign banks. The move was not as drastic a step as halting interest payments, but it highlights a hardening of attitudes among Latin American leaders over the worsening economic situation.
NEWS
March 4, 1989 | DON A. SCHANCHE, Times Staff Writer
President Carlos Andres Perez on Friday characterized the bloody price riots that took more than 300 lives in this once tranquil and wealthy nation as a largely spontaneous and nonpolitical outburst of the poor against the rich. He blamed Venezuela's foreign-debt crisis for creating the conditions that sparked the violence.
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