Word: peso
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...felt like the end of the world at the edge of the earth. It was 2002, and Argentina was in economic free fall. The peso lost 75% of its value against the U.S. dollar, and the nation had defaulted on almost $100 billion of debt. Bank deposits were frozen to halt panicked runs, and an enraged middle class took to the streets. The country went through five Presidents in just two weeks. Wall Street feared that the crisis, one of the worst in South America's history, would spread next door to giant Brazil--where the élite predicted financial...
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...
...believe Argentina is back as a hemispheric or even world player? Yes, Argentina is finding again its presence on the international scene; it's finding its identity again. In the '90s we thought having ann exchange rate of one [Argentine] peso to one [U.S.] dollar was an automatic passport to the First World, but that was a mistake. We're finding our way now, and we're reasserting Argentina on the world stage...
...said "the working poor of Latin America need change," then many feel the U.S. should start helping burgs like Santa Cruz build the kind of small enterprises that can jump-start more viable local economies. "There is too much entrepreneurial ambition in this country that never sees one peso of encouragement," says Roberto Hernandez, 29, whose metal-window-frames business was financed by the Santa Cruz microbank, which is called Xu Nuu Ndavi, or Poor People's Money in Mixtec...