Word: peso
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Dates: during 2000-2009
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...same panel, Summers compared the current state of the world economy to the moments preceding the 1994 Mexican peso crisis and the burst of the technology bubble in 2000, according to a Financial Times report from Davos...
...career at the World Bank and the Treasury Department, promoted tirelessly. For example, in an article posted last month on the liberal website TomPaine.com, Rodrik wrote that the North American Free Trade Agreement—which Summers has vocally supported—and the United States’ 1995 peso bailout—which Summers orchestrated—did not improve real wages in Mexico...
...view a parliamentary system as one way of doing that. You say the switch should come by July 2006. do you insist on that timing? I'm saying we have 10 months, maybe 12 or 15?that's what the country can probably stand. Look at our peso, our credit ratings, look at the poor below. [He points from his 26th floor window to the streets and slums of Makati.] How urgent...
...edge of economic collapse. An 11% drop in the price of oil coupled with spiraling interest rates had left Mexico $85 billion in debt and forced international bankers to cobble together an emergency rescue plan. The Harvard-trained De la Madrid instituted a painful austerity program that devalued the peso, sharply curtailed imports and cut government spending, including costly subsidies on basic goods and services. In an effort to stimulate future growth, he sold off some state-owned enterprises and invited foreign investment. Now, halfway through De la Madrid's six-year term, another precipitous drop in the price...
...have laid his administration open to charges that it is not doing enough to overcome the country's worst urban disaster in decades. In the past two months, an estimated $1 billion to $2 billion has left the country, mostly for the U.S., and the value of Mexico's peso has dropped from 350 to 500 to the dollar...