Word: peso
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Dates: during 1970-1979
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Gueiler-or whoever will be running the country in the months ahead-faces some hard, unpopular decisions. In essence, Bolivia is broke. A representative of the International Monetary Fund has recommended a devaluation of the Bolivian peso, which is artificially pegged at 20 to the dollar, to help solve a complex of economic problems ranging from severe inflation to a foreign debt of $3 billion. Natusch, unrealistically, had promised to attack these economic woes by raising workers' salaries "without provoking inflation and without devaluing the currency...
Gueiler is trying a more workable approach. Last week she announced a package of tough new policies. Among them: a stiff hike in the price of gasoline and other fuels and a 25% peso devaluation. But her tough new plan provoked a warning from the heads of the powerful Central Labor Federation, which had sponsored a general strike that helped propel Natusch from office. Workers, declared Federation Leader Juan Lechin Oquendo, "will not accept economic measures that affect their income." If Gueiler's new proposals are carried out, he threatened, his followers were ready to "struggle in the streets...
...other time since the 1910 revolution. Frightened by his leftist economic proposals, like forming state enterprises and financing them with freshly printed money, many businessmen quietly transferred funds to safer havens, in Europe and the U.S. Inflation and a declining balance of trade forced Echeverria to devalue the peso in 1976 by about 50%, incurring the anger
...professor and author who spent nearly two decades in public administration before his election to the presidency in July 1976. In the economic field, Lopez Portillo's performance has been quite creditable. By holding down public spending and wages, he has been able to stabilize the erratic peso, slow inflation, reverse the flight of capital and stimulate private investment. After several sluggish years, Mexico's gross national product is now increasing by about 6% annually. Lopez Portillo has also promoted a certain degree of political liberalization, although his Institutional Revolutionary Party (P.R.I.) continues to dominate Mexican politics...
Behind the mass influx are some stark economic figures: half of Mexico's 18 million-member labor force is unemployed; a devalued peso has sent prices there spiraling; the country's 3.5% population growth is one of the world's highest. Says Border Patrolman Michael S. Williams: "They're starving to death down there...