Word: peso
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Dates: during 2000-2009
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...facto Vice President, Juan Camilo Mourino, and top security adviser Jose Luis Santiago Vasconcelos - was an accident and not narco sabotage. That dwindling public confidence has done nothing to help the Calderón administration fend off the effects of the global economic crisis. This year the Mexican peso has lost about a fifth of its value against the U.S. dollar...
...conviction of his former associate Frank Duran in Miami yesterday, of "being paid to say what he says." But that's unlikely to help soften the latest blow to a government reeling from a drastic fall in public approval ratings, and a loss of confidence in Argentina's peso...
...which many Argentines keep their pensions - a move that should swing some $30 billion from private individual pension accounts into state coffers. The announcement sent Argentina's stock market plummeting, while the rush of depositors to convert their savings into dollars resulted in a 7% devaluation of the peso. The financial earthquake caused by the initiative has put the Argentine economy "in intensive care," says columnist Morales Sola...
...subcommittee last month publicly condemned Mexican officials for corruption and complicity in drug smuggling. The recent decline in the price of oil, the country's major export, stripped in a single month the already debilitated economy of one-third of its projected foreign exchange. And earlier this month the peso, which was worth 26 to the dollar in 1982, fell in only a week from around 530 to 750. By now, this fury of calamities has pushed Mexico to the brink of defaulting on its foreign debt of $98.6 billion. As De la Madrid recently warned, ''Dead...
Five years later, Argentina's rapid recovery still has analysts doing double takes. Since President Néstor Kirchner was elected in 2003, annual growth has averaged 9%, the best in Latin America. Argentina has parlayed a cheaper but stable peso into record export earnings. "Argentina," crows Central Bank president Martín Redrado, "is enjoying its most solid macroeconomic context of the past 30 years." In Brazil, Lula's election (and 2006 re-election) did not render the region's largest economy a leftist basket case. Instead, inflation has fallen from 12.5% in 2002 to less than 4% today. Brazil...