Word: peso
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Dates: during 1950-1959
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...string to protect her from studio drafts, did her routine. Frantically Paco gestured for his cameramen, but they stood transfixed, and Eda danced inexorably on before the eyes of thousands of Mexicans. When the phones stopped ringing and the censors stopped roaring, Malgesto paid a 5,000-peso fine to the government for purveying obscenity over the air, apologized sheepishly to the nation's mothers and children...
Colombia, one of the most dogged advocates of government economic meddling, last week abruptly freed its long-pegged peso. Officially traded at 2½ to the dollar before the freeing, the peso promptly dropped to 6¼. Result expected: encouragement for the producers of dollar-earning exports (chiefly coffee), discouragement of dollar-draining imports, reduction of a towering trade debt estimated at $200 million...
Reconstruction. The conquering generals quickly sought expert economic advice from Raul Prebisch, who was general manager of the Central Bank before Perón. Almost at once they scrapped IAPI, devalued the peso. Farmers were again able to keep, with some exceptions, what their -exported crops earned. The effect: a fattened peso return for agriculture. Planting and animal breeding zoomed. The cattle population is up from a low of 40 million to 49 million, i.e., 2½ head for every Argentine v. one-half in the U.S. This year's wheat harvest was 36% greater than last year...
...hell of a way to make a peso...
...prop up the slipping Argentine peso (now down to 40 to the dollar at the free rate). Aramburu last week got a $75 million loan from the International Monetary Fund. To draw the dollars. Argentina must post an equivalent sum in pesos (figured at the official rate of 18 to the dollar) and within three to five years must repurchase the pesos with dollars at the same ratio...