AFTER every debauch, someone must pick up — the pieces and arrange to pay the damages. In Argentina, nearly bankrupt after a giddy decade under Dictator Juan Perón, the cleanup man is dour, professorial Arturo Frondizi, 50, the country's 31st President. Frondizi is the successor to Provisional President Pedro Aramburu (TIME Cover, June 3, 1957), the general who restored Argentina's democratic political system and presided over the free election a year ago that gave Frondizi a victory. In six months, Frondizi has sharply lifted Argentina's prestige and credit by a stern, undemagogic economic program that embodies the same patriotic austerity De...

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