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PRESIDENT SAYS ARGENTINA NEEDS CAPITALISM

President Carlos Menem of the Peronist party, which for decades advocated a blend of capitalism and socialism, said this week that capitalism is the only solution to Argentina's economic problems. Argentina is beset by triple digit inflation and more than 30 percent unemployment. The national currency, the austral, has lost nearly all of its value against the dollar in recent months and foreign aid was unobtainable.