There Is Still Great Risk

Before accepting an honorary doctor of laws degree from New York University last week, Argentine President Raul Alfonsin breakfasted in New York City with TIME editors and correspondents. Excerpts from the interview:

On the Argentine economy: As you well know, we are facing a very difficult ( situation, with an external debt in the neighborhood of $48 billion; 60% of our export earnings go to service that debt. The world price of grain has fallen by 20% to 25%, and because of that we have lost $850 million in potential income, despite a record harvest. Trade agreements discriminate against Latin America....

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