Word: floated
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Dates: during 1990-1999
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...that saved New York City from bankruptcy in the mid-1970s--complains that ``Mexico hasn't come up with any strategy at all'' and adds, ``I`m very worried.'' Financiers complain in particular that Mexico has not decided what to do about the peso--whether to let its price float or try to stabilize it within some range...
...four lithographs in the series, the most iconic "Young Danish Woman" has gold skin and copper hair. Her head and ravishingly long neck float against the shadowy depths of a black background. Beneath her neck, a small rectangle suggests her shirt collar. Her face is sensuously smudged, unlike Warhol's perfect "Marilyn." Lushly foliated, she is as static as a figure on an ancient Egyptian coffin...
...President Ernesto Zedillo Ponce de Leon still must reform the policies that caused the latest crisis--specifically, Mexico's reliance on foreign capital. Much of those funds fled in December when the government, unable to prop up the overvalued peso any longer, let the currency float. Now Zedillo is taking the politically risky steps of slashing government spending and jacking up interest rates to slow the economy and wean it from its dependence on ``hot money''--foreign investments in securities that can easily be dumped. Says Allen Sinai, the chief economist for Lehman Bros.: ``Mexico must swallow a recession...
...charming, consoling and begging the forgiveness of three American credit-rating agencies, the heads of a dozen U.S. commercial banks and 400 investors and analysts who lost nearly $10 billion last month when Mexico's newly minted President, Ernesto Zedillo Ponce de Leon, abruptly allowed the peso to float against the dollar. To the investors, whose stampede to pull their money out of Mexican stocks and bonds stripped the peso of 41% of its value, Ortiz's message was, Come back, the government has an economic plan to deal with the crisis and knows how to make it work...
...jobs were somewhat scarce, and thus contributed to some of the rural unrest. When the rebels seemed to be readying for a new round of attacks, President Zedillo decided to lower the peso by about 12 percent. Then, in a surprise to almost everyone, he allowed the peso to float against the dollar. Investors were used to being warned well in advance of a devaluation. This sudden move scared them, causing them to start unloading Mexican securities. The peso continued to drop...