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When President Carlos Castillo Armas booted out Guatemala's Communist-line government last June, one of the many burdens he inherited was a set of leftist petroleum laws admirably designed to keep the country's oil in the ground by frightening investors and prospectors away. Last week, in a temporary decree. Castillo Armas opened the entire national territory to surface or air exploration by reputable Guatemalan or foreign oilmen. Details of concessions for future development were left for a permanent oil law, now being prepared with the help of Venezuelan technicians.
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LAKSHMAN ACHUTHAN, managing director of Economic Cycle Research Institute, saying the Dec. 1 announcement US has been in a recession for the past year does not mean the country is heading for a depression
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