PERU: Let 'Em Eat Nesselrode

One of Manuel Prado's big campaign pitches when he was running for President last year was a promise to fight inflation with sol-searching* austerity. Last week, five months after his inauguration, the country's two top newspapers, El Comercio and La Prensa, both rapped him hard for breaking the promise. His first yearly budget had just emerged from Congress, at $254.6 million, the fattest in the nation's history and nearly 25% bigger than the last, spending-spree budget of President (1950-56) Manuel Odría, whom Candidate Prado had lambasted as a spendthrift. Old Soldier Odría was often accused of lavishing the taxpayers' soles...

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