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peso |
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peso 1. the standard monetary unit, comprising 100 centavos, of Argentina, Chile, Colombia, Cuba, the Dominican Republic, Mexico, and the Philippines; formerly also of Guinea-Bissau, where it was replaced by the CFA franc 2. the standard monetary unit of Uruguay, divided into 100 centesimos 3. another name for piece of eight How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Since then, Uruguay's sovereign ratings have undergone successive downgrades because of contagion from Argentina's default, a banking crisis, drastic depreciation of the Uruguayan peso, and, now, the poor outlook for public finances and growth in light of the cumulative impact of these pressures. Even assuming Uruguay meets an aggressive IMF primary surplus target that could range between 3-4% of GDP this year, government debt to GDP could continue to rise beyond its current level of over 90% of GDP because of continued weakness in the Uruguayan peso. |
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