Origin and Goals
In March 1961, President Kennedy proposed a ten-year plan for Latin America:
| “ | ...we propose to complete the revolution of the Americas, to build a hemisphere where all men can hope for a suitable standard of living and all can live out their lives in dignity and in freedom. To achieve this goal political freedom must accompany material progress...Let us once again transform the American Continent into a vast crucible of revolutionary ideas and efforts, a tribute to the power of the creative energies of free men and women, an example to all the world that liberty and progress walk hand in hand. Let us once again awaken our American revolution until it guides the struggles of people everywhere-not with an imperialism of force or fear but the rule of courage and freedom and hope for the future of man. | ” |
The program was signed at an inter-American conference at Punta del Este, Uruguay, in August 1961. The charter called for:
- an annual increase of 2.5% in per capita income,
- the establishment of democratic governments,
- the elimination of adult illiteracy by 1970
- price stability, to avoid inflation or deflation
- more equitable income distribution, land reform, and
- economic and social planning.
First, the plan called for Latin American countries to pledge a capital investment of $80 billion over 10 years. The United States agreed to supply or guarantee $20 billion within one decade.
Second, Latin American delegates required the participating countries to draw up comprehensive plans for national development. These plans were then to be submitted for approval by an inter-American board of experts.
Third, tax codes had to be changed to demand "more from those who have most" and land reform was to be implemented.
Read more about this topic: Alliance For Progress
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