Word: boliviano
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...country with the Western Hemisphere's worst addiction to inflation last week took the pledge and swore off abruptly. Bolivia launched a determined attempt to force its currency, lately worth around 10,000 bolivianos to the dollar, back up toward its 1951 value of 200. The tools to be used: a drastic stripping-away of artificial economic controls, and a $25 million stabilization loan.* The boliviano's inflation is not yet a classic like the German mark after World War I, when prices multiplied 1.2 trillion times. But in recent months the boliviano has been clearly and dramatically...
...took a chance: it printed the money to pay the miners who produced the tin that brought in the dollars needed for development. It calculated that greater farm production (lessening dependence on dollar-bought food) and greater exports of dollar-earners like oil might balance off trade before the boliviano went into a spin...
House Cleaning. The stabilization loan announced last week came about after Bolivia, in despair, got the services of a U.S. consultant named George Jackson Eder, legal counsel for International Telephone & Telegraph Corp. and an old Latin American hand. The sum, equal at the present 10,000-to-$1 boliviano rate to nearly double the value of the 140 billion bolivianos now in circulation, should be enough, if carefully fed into the dollar market, to roll the boliviano well back. The experts guess that the boliviano's realistic rate will turn...
...York is in currencies of countries that have no import limits, although their official rates stand much higher than the free rate. Among these are France's franc (which was selling in the U.S. last week at 395 to the dollar, v. 350 in Paris), Bolivia's boliviano (5,5°° ". 190), Argentina's peso. Even where limits exist-as in Spain, Finland, Turkey-tourists can take in the legal amount and still make a saving. Where money is stable and the saving small, travelers still find it handy to take along local money for early...
...permits to import raw materials, the textile industry has sharply curtailed production. Foodstuffs, normally imported, including wheat, meat, rice and sugar, are in critically short supply. Teachers are pressing for cost-of-living pay increases. The government has had to print more currency; since the revolution, the boliviano has dropped from 250 to 530 to the dollar...