"Venezuela Perez: A Populist With A Master Plan for Latin Debt", BusinessWeek, December 5, 1988, p. 52.
summary by Mary Johnson

Carlos Andres Perez was running two campaigns during the race for the
Venezuelan presidency. His presentation to poor Venezuelans included full
employment, housing and help for the poor. His presentation to the world
included promoting himself as a Latin spokesman on issues like hemispheric
relations and foreign debt.

Perez and Carlos Salinas de Gortari, the narrowly elected president of
Mexico, were conspiring to gain US support to find a global and political
solution for the debt crisis. Their goal being to ease pressure from lenders
for debt repayment and to make discounted loans available. Without support
for these ideas a sustained economic debt related crisis is in the future
for Latin America. Perez is expected to impose austerity measures early in
his presidency. He would also encourage foreign investment in petrochemicals
and change the policy that allows voters to select only from groups of
candidates selected by parties which causes corruption of political power.

When elected, Perez will face the challenge of managing the country's debt
crisis. As Venezuela's international monetary reserves were quickly
depleted, creditors were told the principal payment could not be made in
1989, but Perez promised that unlike Brazil and Peru payment would not be
suspended completely.

Perez's success would encourage populists seeking candidacy in other
countries to try similar approaches. His failure would mean economic
disorder and political unrest in Venezuela.