The World - News from Dec. 17, 1985

Latin American nations will have to take bolder action to confront the global debt crisis, President Julio Sanguinetti of Uruguay told the foreign and economic ministers of the region’s 11 most indebted nations. Opening a three-day conference of the debtor nations in the Uruguayan capital, Sanguinetti said that poor terms of trade and high interest rates have led to an enormous transfer of resources out of Latin America. The meeting will make specific proposals on interest rates, trade and cash flow problems, delegates said.