To stabilise the new currency the government must address its habit of printing money, overspending on its budgets and failing to expand the economy.
Articles on devaluation
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The idea: to use the credit channel by making foreign banks bear the consequences of the devaluation of the Russian currency.
When the only fixes getting funded are designed to leave the status quo intact, the results of philanthropy inevitably fall short.
Venezuela recently devalued its bolivar by 95 percent to tame rabid hyperinflation that has been sending prices on everyday goods through the roof. If history is a guide, it won’t work.
Top contributors
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Professor of International Political Economy, University of California, Santa Barbara
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Professor of Public Administration, Binghamton University, State University of New York
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Professeur de Finance, LEM-CNRS 9221, IÉSEG School of Management
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Professeur de finance, LEM-CNRS 9221, IÉSEG School of Management
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Professor of Economics, Salisbury University