Word: pesos
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Senate Banking Committee Chair Alfonse M. D'Amato (R-N.Y.) criticized Summers for failing warn people that the peso was in trouble. However, this criticism was not enough to seriously threaten the nomination of Summers, who received tenure at Harvard before...
Leaders of the seven richest industrialized nations endorsed a plan for a $58 billion rescue fund to promptly handle future crises like last winter's Mexican peso plunge.President Clinton and the leaders of Japan, Germany, Britain, France, Canada and Italyagreed that the global economy is not growing as robustly as it was only a year ago and promised to used the fund to avert worldwide financial instability. "We cannot walk away from our global leadership responsibilities," Clinton told reprters at the G-7 summit in Halifax, Nova Scotia. At the same time, he said the bailout fund will "help...
...Punta Diamante, a resort in the state of Guerrero that many investigators believe is financed with drug money. It is also widely assumed that drug traffickers who fiddled with Mexico's financial markets were responsible for some of the capital flight last year that hastened the collapse of the peso. By channeling huge sums into legitimate investments that are integral to the nation's economic health, the drug lords have woven themselves into the fabric of the country...
...trade deficit soared to a record $12.23 billion for January, clearly a result of Mexico's economic woes. The devalued peso has reduced Mexico's imports 10%. Some analysts predict a $15 billion trade imbalance by year...
...DOLLAR The greenback does an uncanny impression of the peso...