Word: peso
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Estrada was a second-rater, unfit to rule and certainly not one to act in the best interests of the Philippines. And they had their reasons to doubt his policies: Estrada's term in office had been an economic disaster. The Manila Stock Exchange had plummeted 6%, and the peso was trading at an all-time low of 55.75 to the dollar. The business élite had wanted him gone almost from his landslide 1998 election victory; the allegations of corruption and the impeachment trial merely provided the galvanizing issues. Indeed, among the protesters at EDSA last week were students...
...TIME: Do you feel betrayed by Zedillo? SALINAS: Zedillo did not betray me personally, he betrayed the platform that took him to the presidency. It all started with the peso devaluation in Dec 1994 when Zedillo's government provided inside information to a small group of Mexican businessmen that the devaluation was coming. And in a matter of hours, Mexico lost $6 billion -- half its total foreign exchange reserves...
...inflation in the economy right now ? but there?s a lot of uncertainty out there right now coming from Argentina," he says. Latin America?s third largest economy has mounting debt, is mired in a recession, and is stuck with a currency that it can?t afford. "The Argentinian peso is tied one-to-one with the dollar, and with the dollar so strong, countries with devalued currencies like Brazil are killing it on exports because their goods are that much cheaper." If Argentina buckles under the pressure and devalues, the whole region will take a beating from the markets...
Although Rubin was initially caught off-guard by the Mexican peso devaluation, he managed to string together a series of policy successes, according to Ullmann and Levy--most notably, the circumvention of the federal debt cap on government spending--which infuriated Republicans in Congress and led some to consider impeachment proceedings against...
...have been proved wrong. The economy has emerged from the abyss. At the depths of the special period, the country had almost no petroleum, electricity, food, transport or production. Today Havana blooms with chicly renovated hotels, neon signs, crowded restaurants and nightclubs. The U.S. dollar has swallowed the Cuban peso. Farmer's markets and mom-and-pop entrepreneurs fuel a production boom of sorts. Cars outnumber bicycles again in Havana, and many of them are 1990s Nissans, not 1950s Chevys. Foreign investors not only share ownership of new projects but also own some outright and ship much of their profits...