“Argentina’s
New Hope,” BusinessWeek, February 6th 1984
Main
Point:
After years of brutal military
rule in
Argentina, Raul
Alfonsin, the new democratic president, needs to quickly follow through on his
promises in order to satisfy the Argentinean people.
Summary:
When the Argentinean military was defeated in the Falkland
Islands, the military’s power, that had ruled
Argentina for
decades, was discredited. The new
democratic leader, Raul Alfonsin, inherits a lot of turmoil including, $43
billion foreign debt ($14 billion of which to US bankers), hyperinflation, and a
citizenry that revolts very quickly against a democracy that does not show
results.
This new democracy in
Argentina could
spread to neighboring
Uruguay, Chili,
and Brazil who
are currently under military rule.
The US State Department Counselor visited Chili to urge them towards
similar democratic movements but the
US is hesitant
to support
Argentina too
much. Another stress on
US-Argentina relations is
Argentina
refusal to sign nuclear safeguard and proliferation agreements while also
recently obtaining uranium producing plants. It is feared that peaceful rule will not
last in
Argentina and
the military could have control of nuclear resources.
Other than economic perils, Alfonsin’s democracy is threatened by the
political stage involving Peronism.
Optimistically, the Peronist part is in disarray and claims that a change
is needed and that they will support Alfonsin’s
efforts.