Argentina makes a payment and borrows more time
When people cannot pay their debts, they go bankrupt. When countries cannot pay their debts, they go on public relations campaigns. That was again the case last week with Argentine President Raul Alfonsin, who faced overdue interest payments of $900 million on his country's foreign debt of $45 billion. In a televised speech, postponed for 48 hours because of the government's difficulties in agreeing to the details of a policy, Alfonsin lashed out at his countrymen's rampant tax evasion, calling it a "scandalous immorality." He promised...
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