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They need a currency devaluation.
A currency devaluation three years ago made local manufacturing profitable.
He noted that Unilever had raised prices by 15.5% in Latin America after a currency devaluation.
And the easiest way of stoking growth, a currency devaluation, isn't an option either.
In such a situation, the southern countries would have undergone a currency devaluation.
On the other, the increased odds of a currency devaluation chases private sector capital away.
Once, that might have led to fears of capital flight and a currency devaluation.
In the past, that gap might have been closed through a currency devaluation.
Back then, India rapidly depleted its reserves, forcing a currency devaluation.
Vasp, Varig, Transbrazil and TAM are all struggling with heavy debts and the effects of a currency devaluation last year.
This continues until there is a reflation, a currency devaluation and government guarantees of the efficacy of key financial intermediaries".
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CEO of Professional Science Editing for Scientists @ prosciediting.com