Word: dollarization
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Dates: during 1980-1989
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...current weakness of the Canadian currency, which was worth 81 cents as recently as 1983, is somewhat enigmatic. The economy is growing at a healthy 4% annual pace, and inflation is only 4%. Falling oil prices may be one cause of the dollar's dip, but petroleum accounts for only about 5% of Canada's merchandise export revenues. Probably more damaging is the government's deficit, which was about $34 billion (Canadian) last year. To strengthen the dollar significantly, says Ben Gestrin, vice president of the Canadian Imperial Bank of Commerce, the government must prove that it will "pull...
Many thought the second-generation Duvalier lacked his father's force and intelligence. Still, even as the country's living standard sank progressively under his rule, there was little indication that Jean-Claude might be overthrown. In 1980 he married Michele, a divorcee with two children. Her million-dollar splurges on clothes and diamonds soon came to gall a country that could not even feed its people...
...They encouraged stations to donate time for network shows produced in cooperation with the liberal Federal (later National) Council of Churches, as well as Catholic and Jewish agencies. In early TV, too, the networks continued to give traditional denominations free time, in effect confining the conservative evangelists to weak "dollar a holler" stations. As late as 1959 the evangelists accounted for only half the religious airtime. By 1980 they had achieved a virtual monopoly...
...offices in 53 countries and preaches regularly overseas. Swaggart and Wife Frances live next door to Son Donnie, 31, in Baton Rouge, La. The houses are worth at least $1 million; much of the materials and labor was contributed by followers. Swaggart insists that "we've never taken a dollar from people's donations." He pays himself a salary from book, tape and record royalties, and he admits, "The Lord has been good...
...recent years, the makers of home photography equipment have had few triumphs to put in their picture albums. Sales of once promising products like disk-film cameras have been lackluster, and videotape recorders have become strong competitors for the consumer dollar. Against this dim background, Minolta has been a bright performer. The Japanese firm's Maxxum, which focuses automatically and sells for about $350 with a basic lens, has turned Minolta (est. fiscal-1985 sales: $975 million) into the No. 1 producer of 35- mm single-lens reflex (reflected-image) cameras, which account for a third of the worldwide camera...