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LATEST PEACE PLAN CALLED UNACCEPTABLE

Bosnian President Alija Izetbegovic yesterday called a peace formula presented by the United States and its allies "totally unacceptable" and said his government will not participate in any "futile negotiations." In a statement read to reporters, Mr. Izetbegovic said the formula agreed to Saturday in Washington rewards Bosnian Serb aggression. "The aggressor is not going to withdraw from the occupied territories," he said. "And our people who have been evicted will not be allowed to return to their homes ." Iranian maneuvers

Iranian troops with armor and warplanes staged what Tehran called military maneuvers on the southern border with Iraq yesterday in the wake of attacks by Baghdad-based rebels. The official Islamic Republic News Agency said 8,000 infantry from the Revolutionary Guards Corps and an armored brigade, backed by artillery, helicopters and fighter jets, are taking part.

They were ostensibly to commemorate the May 24, 1982, liberation of the port city of Khorramshahr, 18 months after it had been captured by Iraqis. Cambodia elections

Despite threats by Khmer Rouge guerrillas, one-third of Cambodia's eligible voters eagerly pushed their way into polling stations Sunday on the first day of elections for a democratic government. UN officials said between 1.5 million and 2 million people voted Sunday in the country's first multiparty elections in two decades. The UN-organized election ends Friday. Venezuelan president

Economic analysts are predicting that the suspension of Venezuelan President Carlos Andres Perez will stall free-market reform, but won't hurt Venezuela's vital oil industry and foreign investment.

The Senate ordered a Supreme Court trial for Perez on Friday on charges of embezzling $17.2 million. Its action removed him from office during legal proceedings. He could face up to three years in prison if convicted. Afghanistan peace

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