Word: pesos
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...squat in squalid shacks surrounding Bogota and Cartagena and have been growing restive under the lackluster rule of Conservative President Guillermo León Valencia. During the campaign, Rojas drew enthusiastic crowds with his vivid lectures on economics, in which he argued that the way to get the peso on a par with the dollar was to "lock up all Colombians with money outside the country and not let them go until they bring back the $3 billion they have hidden abroad." His daughter Maria Eugenia Rojas de Moreno Diaz, 30, who ran for the Senate, turned...
...government agencies and state-run businesses went an order to fire all workers who sign up for the airlift. To make life doubly difficult and possibly discourage any more Cubans from signing up to leave, the Communists also announced that before departing, would-be exiles must return every peso withdrawn from their bank accounts since Sept. 28-the date of Castro's "open door" speech...
...brink of bankruptcy. The country is rich in wheat and beef but hardly rich enough to afford such goodies as 100% pensions at age 55, a 30-hour work week, and 44 days of paid vacation each year for many workers. And so in the past five years the peso has skidded from 9? to 1.6? on the free market (the official rate has been abandoned altogether). Thus far this year, inflation has soared 45% while the foreign debt has grown to a staggering $515 million...
...told, rocketing prices and shortages of every kind have cut the value of the Cuban peso by one-third since Castro came to power. "The typical industrial worker," says one observer in Havana, "has thus gained nothing and lost much by the revolution. If he was earning $225 a month before, he was able to look forward to buying a refrigerator, television set or even a car. Now all these things are shut...
...gigantic octopus that today is drowning in its own ink. To meet rising annual deficits, the government simply has printed more money, has run the foreign debt to an unwieldy $500 million, of which $80 million is already overdue this year. Largely as a result, the once-proud peso in the past five years fell from 9? to 1½ and the cost of living quadrupled...