September 28, 1988 |
Crude oil prices plunged to near two-year lows Tuesday but then recovered much of the ground to finish with a small loss for the day. Economists described the action as part of a predictable pattern of gradually eroding prices through the end of 1988 as world economics encourage continued overproduction by members of the Organization of Petroleum Exporting Countries.
August 27, 1998 |
A chorus of international financial experts urged a lowering of U.S. and European interest rates Wednesday to help Russia navigate its rapidly worsening crisis and advocated an assortment of remedies, such as letting Russians spend the American dollars they have stashed in their mattresses. But as the ruble went into free fall and the Russian economy neared collapse, it was clear that any fix for Russia has to go far beyond propping up the currency.
May 29, 2001 |
Latin American economies from Brazil to Peru are rapidly slowing, prompting analysts to lower their growth projections for the region and raising pessimism about the fate of free-market reforms there. Energy rationing and a sinking currency in Brazil, a debt crisis in Argentina, a threatened state of emergency in Venezuela and worsening economic prospects in Chile, Colombia and Peru all have analysts on edge and fearful about the economic direction the region will take.
December 11, 2006 |
An unexpected bright spot has appeared in this war-ravaged Iraqi capital: The national currency is strengthening against the U.S. dollar. The dinar has appreciated to about 1,400 dinars to the dollar, near its two-year high, triggering a dinar buying frenzy among currency traders. "I had people call to sell $150,000, $100,000. I had to tell them I didn't have that many dinars," said Alaa al Shemry, deputy manager at the Beirut Exchange Co.
April 2, 1999 |
In a land where old struggles with the United States linger ghostlike in the public psyche, Raymundo Winkler offers an almost unnerving vision for the future. "Maybe we would have coins with the faces of our Mexican heroes for use in parking meters," declares Winkler, who heads the largest council of industries in Mexico City. "But the dominant currency obviously would be the U.S. dollar." Remarkably, his voice is blending with a larger chorus throughout the Americas.