Word: dollarization
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Dates: during 2000-2009
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Harvard first announced plans in February to slow construction on its much-touted Allston Science Complex due to financial pressures and an unprecedented drop in the endowment. And to top off the University's financial woes, Harvard’s multi-million dollar Allston development fund had been all but wiped out by the financial crisis as of early March, scuttling the hopes of some Harvard faculty and administrators that the money could be diverted toward their own strapped budgets. Allston residents feared Harvard would halt construction on the science complex—a core component of the University?...
...implications of a fresh start, the commencement of 2009 was unable to shed the atmosphere of financial doom and gloom that persisted from the previous year. In March, Harvard announced that the payout from the endowment would decline by 8 percent in dollar value for the fiscal year ending in June 2010, and projected another 8 percent fall from 2010 to 2011. The news came as a surprise, especially since it marked a significant departure from expectations in the previous fall for scenarios ranging from a flat payout to a 2 percent decline in dollar value. In September, Harvard announced...
...partisan sniping already breaking out following the failed airline bombing, the last thing Obama needs right now is to be accused of launching what General Tommy Franks once derided as "pinpricks." (After the 9/11 attacks, Franks voiced his glee that he would no longer be ordered to launch "million-dollar [cruise missiles] into empty tents...
...PING, a director general at China's Banking Regulatory Commission, saying Beijing will continue to buy U.S. Treasury bonds despite concerns about the dollar. China has nearly $2 trillion in foreign-currency reserves --FEBRUARY...
...There are still houses and buildings left untouched after the waves receded, standing like skeletal ghosts with long shadows amidst the newly constructed buildings. Small blue signs dot the coast, indicating where to run in case of a tsunami warning. Sri Lankan authorities recently tested a multi-million dollar early warning system along the beaches. In Sainathimaruthu, where villagers say at least 3500 died, a large red tower stands on the beach equipped with a public address system - a constant reminder that, despite the rhythms of life having returned to some kind of normalcy, it could happen again...