Word: peso
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Dates: during 2000-2009
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...state-dominated economy to an open one was wrenching. Mexico needed help, which it got from the U.S. The North American Free Trade Agreement, negotiated by the first Bush Administration and signed by that of Bill Clinton, guaranteed that the U.S. would buy what Mexico produced; later, when the peso collapsed, Clinton put together a rescue package...
...recalled his initial encounter with the former Mexican president in 1995 during the country’s economic crisis, brought on by the collapse of the peso...
...ARGENTINA Baby Steps As the Central Bank prepared for this week's planned flotation of the peso, Economy Minister Jorge Remes Lenicov presented a recovery-minded draft budget to Congress. The plan includes severe spending cuts agreed to by President Eduardo Duhalde and Argentina's provincial governors, and Remes Lenicov said the program was "tough." But critics warned that it relies on gdp and export-growth forecasts that may be too optimistic. Duhalde expressed hope that the economy would recover before the next presidential vote, now set for September...
...banks' lack of foreign capital as lawyers began investigating the disappearance of billions of dollars before accounts were frozen. President Eduardo Duhalde reopened the stock exchange after forcing the resignation of central bank governor Roque Maccarone, but the measures were unlikely to cause a surge in demand for the peso...
...collapse. After the new President, Eduardo Duhalde, declared that "Argentina is bankrupt," the new Economy Minister, Jorge Remes Lenicov, announced a plan to tackle the crisis precipitated by the country's four-year recession and its Dec. 20 default on $132 billion in foreign debt. Remes Lenicov devalued the peso by 40% and announced steep cuts in public services...