GARCIA SAYS PERU NOT TRYING TO EXPORT DEBT STANCE
Peruvian President Alan Garcia said
his government was not trying to convince other nations to
follow its decision to limit foreign debt repayments.
    "We do not want to export a model," Garcia told a press
conference at the end of an official two-day visit to Mexico
yesterday. He was referring to Peru's policy of limiting
payments on its 14 billion dlr debt to 10 pct of its export
earnings.
    Peru's attitude contrasts with that of Mexico, which
followed a more conciliatory route and last week signed a 7.7
billion dlr loan package with its creditor banks.
    Since it decided to put a ceiling on debt payments, Peru
has been barred from International Monetary Fund lending.
    Despite their different approaches to debt, Garcia and
Mexican President Miguel de la Madrid issued a joint
declaration yesterday calling the foreign debt problem an
"expression of the present unjust international economic order."
But the declaration said that no Latin American debtors' club
was about to appear.
    "We affirm the sovereignty of our economic decisions and the
capacity for mobilising our own resources," it said.
    The two presidents also signed a variety of agreements
aimed at boosting trade and tourism between their countries as
well a number of technical cooperation pacts.
    Garcia was scheduled to return to Lima tomorrow.
 REUTER
