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G-50 Timeline
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The Inter-American Dialogue joins the Carnegie Endowment as a sponsor of the G-50. The Group holds it Second Annual Meeting and highlights include discussions with César Gaviria, Secretary General of the Organization of American States, Carla Hills, former U.S. Trade Representative, Enrique Iglesias, President of the Inter-American Development Bank (IDB), Jeffrey Sachs, Professor of Economics at Harvard University, and George Soros, international investor and President of the Open Society.
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In Brasil, Fernando Henrique Cardoso takes office in January for a four-year term. His first year in office shows a steady decline in the rate of inflation, opening the way for both sustained economic growth and for determined government action in social reform.
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In February, the United States offers Mexico $20 billion to help stabilize the peso. Combined with IMF funds, this raises the total global commitment to $49 billion.
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In March, former Mexican president Carlos Salinas de Gortari flees to a self-imposed exile in Ireland and Cuba.
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In Argentina, Army Chief of Staff General Martín Balza issues an historic apology to the nation in March for crimes committed during the Dirty War of the 1970s, although the government does not compel officers to disclose what they know about the fate of thousands of "disappeared" to their families.
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Carlos Menem is re-elected as president of Argentina in May.
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In October, the Brazilian Supreme Court grants Bolivia's request for the extradition of General Luis García Meza, the former dictator convicted in abstentia for crimes committed during his 1980-81 military regime.
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Privatization policy in Brazil focuses on the sale of state-owned enterprises in the energy, transportation, and communications sectors.
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