A devaluation of the peso in late 1994 threw Mexico into economic turmoil, triggering the worst recession in over half a century.
This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the French franc.
While the devaluation is likely to help Mexican exporters, whose products are now cheaper, it also raises the specter of an inflationary spiral if domestic producers increase their prices and workers demand wage hikes.
At the start of 1995, the government had to deal with the spillover from international financial movements associated with the devaluation of the Mexican peso.
This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which is linked at a fixed rate to the French franc.
The country responded favorably to the devaluation of the CFA franc in January 1994.
Following the African franc currency devaluation in January 1994 the government updated its development program in conjunction with international agencies, and exports and economic growth have increased.
Without large-scale international aid and rapid privatization of state-owned enterprises, markets may force a currency devaluation and debt default in 2002.
Devaluation of the CFA franc in January 1994 has made Senegalese goods more competitive, and is likely to prompt a relaxation of Senegalese controls, paving the way for a comeback in re-exports.
The US/Mexico trade balance has shifted over the last two years because of the peso's rapid devaluation in late 1994, which made Mexican exports much more attractive.
A bright spot in 1999 was the recovery of international oil prices, which, combined with a well-timed tenge devaluation and a bumper grain harvest, pulled the economy out of recession.
Politically motivated inflation and devaluation were ruled out, for the first time.
Massachusetts - facing a threat of devaluation and inflation - redeemed for silver its share of the paper money in 1751.
It took a massive devaluation and a debilitating financial crisis in 1998 to resurrect consumer appetite for indigenous goods.
Its report remains classified but Stroev confirmed that IMF funds were embezzled in the wake of the 1998 forced devaluation of the ruble.
