The World : Argentina Freezes Prices

Argentina’s Peronist government and the nation’s business leaders signed an agreement to freeze prices for 90 days in an effort to curb hyper-inflation. The new economy minister, Nestor Rapanelli, and 300 business people agreed to hold prices to their July 15 levels after some costs doubled in the last week alone. The agreement marks the new government’s effort to take control of the economy despite many setbacks, including the death last week of the previous economy minister, Miguel Roig, after only six days in office. Private economists said the business community’s backing should help the plan succeed.