Word: peso
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...region, buying off Ecuadorian assets, Argentine debt, and Cuban doctors. In fact, his “brothers” in the region often adopt his dubious means, and not only in the rhetoric uttered by Morales. Argentine President Néstor Kichner has greatly benefited from a purposefully weak peso, high commodity prices, and huge export dividends resulting from “redistributing” taxes. However, although the federal state grows richer, that money is used to buy off regional caudillos and the poorer classes continue to see their real income liquated. Just like in Venezuela, a rich federal...
...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...
Summers, who was a senior official in the Treasury department at the time of the peso crisis and later led the department from 1999 to 2001, played a key role in orchestrating the Clinton administration’s $20 billion package of loans to the Mexican government...
...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...