Chile: And Now to Toil

The red, white and blue inaugural bunting was down from the lamp posts and buildings throughout Santiago, and the distinguished visitors had returned home to such faraway places as Ghana and Senegal. Last week Christian Democrat Eduardo Frei, 53, Chile's newly-installed president by virtue of a resounding victory over Communist-backed Salvador Allende, called his first Cabinet meeting and got down to the toil of pulling his country back from the cliff edge of financial ruin.

Frei (pronounced fray) had no illusions. "The facts cannot be cloaked," he said. Chile's foreign debt is $2.3 billion, with amortization and interest alone swallowing...

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