The World: Cap Perez: No Longer Martyrs

Wearing a decorous gray tropical suit set off by a brightly flowered tie, Venezuela's President Carlos Andrés ("Cap") Pérez had a rare on-the-record interview with TIME Buenos Aires Bureau Chief Rudolph Rauch at the presidential residence in Caracas. Insulated from the noisy center of the capital by the spacious, well-tended gardens that surround the sprawling, colonial-style mansion, Pérez was relaxed but assured in answering questions about his nation's foreign policy. Excerpts:

Q. How do you answer the charge that rising oil prices have caused the current world economic crisis?

A. The world crisis does not derive from the price of petroleum. Inflation in...

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