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Venezuelan president plans May 5-6 visit to Stanford

STANFORD -- Carlos Andres Perez, the president of Venezuela and a chief architect in restructuring that nation's foreign debt, will visit Stanford University May 5 and 6.

Perez will be the guest of honor at a luncheon May 6 given by his hosts, the Stnford Business School and the Hoover Institution. Perez will deliver a public address at 5:15 p.m. on Monday, May 6 in Bishop Auditorium of the Business School. His schedule on May 5 is pending.

Perez, 69, first served as president of Venezuela from 1974-79. He was elected to his current five-year term in 1988.

Since his inauguration in February 1989, Perez has devoted much of his attention to improving Venezuela's battered economy. He has instituted austerity measures at home and investigated methods to reduce or renegotiate his nation's debt abroad.

In a Wall Street Journal opinion piece published shortly after he assumed office, Perez wrote: "In spite of all the efforts made by the developing world in recent years to rectify past errors, we remain trapped in a seemingly endless cycle of debt, poverty, misery, and violence. Our economic and social sacrifices have produced few improvements for the hundreds of millions of Third World citizens whose daily sweat contributes to the repayment of a massive burden of foreign debt."

Perez has since exchanged a portion of Venezuela's foreign debt for bonds. He continues his strict control of the internal economy of the country despite opposition that includes even some members of his own political party, Accion Democratica.



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