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Chronic Inflation
Chronic inflation is an economic phenomenon occurring when a country experiences high inflation for a prolonged period (several years or decades) due to continual increases in the money supply among other things. In countries with chronic inflation, inflation expectations become 'built-in', and it becomes extremely difficult to reduce the inflation rate because the process of reducing inflation by, for example, slowing down the growth rate of the money supply, will often lead to high unemployment until inflationary expectations have adjusted to the new situation. Chronic inflation is distinct from hyperinflation. Occurrence Even more so than hyperinflation, chronic inflation is a 20th-century phenomenon, being first observed by Felipe Pazos in 1972. High inflation can only be sustained with unbacked paper currencies over long periods, and before World War II unbacked paper currencies were rare except in countries affected by war – which often produced extremely high inflati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Argentine General Election, 1989
The Argentine general election of 1989 was held on 14 May 1989. Voters chose both the President and their legislators and with a turnout of 85.3%, Carlos Menem won the presidency, and the peronist Justicialist Party won the control of both houses of Congress. This is the last presidential election the president was elected by the electoral college. Background Inheriting a difficult legacy from his military predecessors, President Raúl Alfonsín's tenure had been practically defined by the foreign debt Argentina's last dictatorship left behind. Signs of unraveling in Alfonsín's 1985 Austral Plan for economic stabilization cost his centrist Radical Civic Union (UCR) its majorities in the Chamber of Deputies (lower house of Congress) and among the nation's 22 governorships in the September 1987 mid-term elections. Facing a restive armed forces opposed to trials against past human rights abuses and mounting inflation, the president brought elections forward five months, no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgarian Lev
The lev ( bg, лев, plural: / , ; ISO 4217 code: BGN; numeric code: 975) is the currency of Bulgaria. In old Bulgarian the word "lev" meant "lion", the word 'lion' in the modern language is ''lаv'' (; in Bulgarian: ). The lev is divided in 100 ''stotinki'' (, singular: , ). Stotinka in Bulgarian means "a hundredth" and in fact is a translation of the French term "centime". Grammatically the word "stotinka" comes from the word "sto" (сто) - a hundred. Since 1997, the lev has been in a currency board arrangement with initially the Deutsche Mark at a fixed rate of BGL 1000 to DEM 1. After the introduction of the euro and the redenomination of the lev in 1999, this has resulted in a fixed rate to the euro of BGN 1.95583 : EUR 1. Since 2020, the lev has been a part of the European Exchange Rate Mechanism (ERM II). The lev is scheduled to be supplanted by the euro on 1 January 2024. Etymology The currency's name comes from the archaic Bulgarian word "lev," which meant "lion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Argentine Ministry Of Economy
Argentines (mistakenly translated Argentineans in the past; in Spanish ( masculine) or ( feminine)) are people identified with the country of Argentina. This connection may be residential, legal, historical or cultural. For most Argentines, several (or all) of these connections exist and are collectively the source of their being ''Argentine''. Argentina is a multiethnic and multilingual society, home to people of various ethnic, religious, and national origins, with the majority of the population made up of Old World immigrants and their descendants. As a result, Argentines do not equate their nationality with ethnicity, but with citizenship and allegiance to Argentina. Aside from the indigenous population, nearly all Argentines or their ancestors immigrated within the past five centuries. Among countries in the world that have received the most immigrants in modern history, Argentina, with 6.6 million, ranks second to the United States (27 million), and ahead of other imm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mauricio Macri
Mauricio Macri (; born 8 February 1959) is an Argentine businessman and politician who served as the President of Argentina from 2015 to 2019. He has been the leader of the Republican Proposal (PRO) party since its founding in 2005. He previously served as 5th Chief of Government of Buenos Aires from 2007 to 2015, and was a member of the Chamber of Deputies representing Buenos Aires from 2005 to 2007. Ideologically, he identifies himself as a liberal and conservative on the Argentine centre-right. Born in Tandil, Argentina, Macri trained as a civil engineer at the Pontifical Catholic University of Argentina and attended Columbia University for business school. After embarking on a business career, he was kidnapped in 1991. The experience prompted him to enter politics, after being released by his captors. He served as president of football club Boca Juniors from 1994 to 2007, reestablishing its profitability which raised his public profile. In 2003 he launched the Commitmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Deficit
The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a ''government budget surplus'', and a negative balance is a ''government budget deficit''. A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. A budget is prepared for each level of government (from national to local) and takes into account public social security obligations. The government budget balance can be broken down into the ''primary balance'' and interest payments on accumulated government debt; the two together give the budget balance. Furthermore, the budget balance can be broken down into the ''structural balance'' (also known as ''cyclically-adjusted balance'') and the cyclical component: the structural budget balance attempts to adjust for the impact of cy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power is the amount of goods and services that can be purchased with a unit of currency. For example, if one had taken one unit of currency to a store in the 1950s, it would have been possible to buy a greater number of items than would be the case today, indicating that the currency had a greater purchasing power in the 1950s. If one's monetary income stays the same, but the price level increases, the purchasing power of that income falls. Inflation does not ''always'' imply falling purchasing power of one's money income since the latter may rise faster than the price level. A higher real income means a higher purchasing power since real income refers to the income adjusted for inflation. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cristina Kirchner
Cristina is a female given name, and it is also a surname. Notable people with the name include: Given name *Cristina (daughter of Edward the Exile), 11th-century English princess *Cristina (singer), Cristina Monet-Palaci (1956–2020), American singer * Infanta Cristina of Spain (born 1965), Spanish princess * Cristina D'Avena (born 1964), Italian singer and actress * Cristina Bazgan, French computer scientist *Cristina Boiț (born 1968), Romanian discus thrower * Cristina Bowerman, Italian chef *Cristina Butucea, French statistician * Cristina Cini (born 1969), Italian football assistant referee * Cristina Conati, Italian and Canadian computer scientist * Cristina Deutekom (1931–2014), Dutch opera singer * Cristina Dorcioman (born 1974), Romanian football referee *Cristina Fernández de Kirchner (born 1953), President of Argentina * Cristina Fink (born 1964), Mexican high jumper *Cristina Gallardo-Domâs, Chilean soprano * Cristina Lasvignes (born 1978), Spanish television and r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
December 2001 Riots In Argentina
The December 2001 crisis, sometimes known as the Argentinazo (), was a period of civil unrest and rioting in Argentina, which took place during December 2001, with the most violent incidents taking place on 19 and 20 December in the capital, Buenos Aires, Rosario and other large cities around the country. It was preceded by a popular revolt against the Argentine government, rallying behind the motto "All of them must go!" (), which caused the resignation of then-president Fernando de la Rúa, giving way to a period of political instability during which five government officials performed the duties of the Argentinian presidency. This period of instability occurred during the larger period of crisis known as the Argentine great depression, an economic, political, and social crisis that lasted from 1998 until 2002. The December 2001 crisis was a direct response to the government's imposition of "Corral" policies () at the behest of economic minister Domingo Cavallo, which rest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disinflation
Disinflation is a decrease in the rate of inflation – a slowdown in the rate of increase of the general price level of goods and services in a nation's gross domestic product over time. It is the opposite of reflation. If the inflation rate is not very high to start with, disinflation can lead to deflation – decreases in the general price level of goods and services. For example if the annual inflation rate one month is 5% and it is 4% the following month, prices disinflated by 1% but are still increasing at a 4% annual rate. If the current rate is 1% and it is the -2% the following month, prices disinflated by 3% and are decreasing at a 2% annual rate. Causes, characteristics, and an example There is widespread consensus among economists that inflation is caused by increases in the supply of money available for use in a nation's economy. Inflation can also occur when the economy 'overheats' because of excess aggregate demand (this is called demand-pull inflation). T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
