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(Studio) Argentina's foreign debt noted; United States Treasury and 4 Latin American cntrys. reported agreeing to loan Argentina necessary funds for paying overdue interest
REPORTER: Connie Chung
(DC) Admin.'s defense of bailout despite criticism by some congmen. examined. [Treasury Secretary Don REGAN - explains motive in bailout.] Bailout program of US, Mexico, Colombia, Venezuela and Brazil outlined on screen, discussed. [Senator Don. RIEGLE - feels taxpayers are bailing out banks; explains.] [REGAN - acknowledges United States banks are pleased.] Admin.'s hope that loans will strengthen government of new Argentine president mentioned; possible dangerous precedent set for other debt-ridden ntns. explained.
REPORTER: Irving R. Levine
- Chung, Connie;
- Levine, Irving R.
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