Devaluating currencies in Brazil, Telefonica's second-largest market after Spain, other Latin American countries and Britain, squeezed its earnings.
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The country is trying to manage a transition in the economy, a devaluating yuan, and a volatile stock market, all at once.
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In the short term when your currency is devaluating against other currencies then of course you will have a short term economic benefit going out of that.
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For a while, it looked as if I would be working on ''Londongrad'' again, but the studio spent so much of its rapidly devaluating budget on the first season that for Season 2, after the ruble's collapse, it could barely afford the main star (we were ordered to write in a way that would reduce his shooting days by 50 percent), the street scenes (60 percent of the London action now had to take place on a Moscow soundstage) and even, finally, myself and my writing team.
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Castle palaces, chapel and other parts of the bastion were used as a granary, devaluating the whole complex, yet protecting it from being rebuilt. The castle stayed in Czernin's hands until the nationalization in 1945.
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The Minister of Finance, Karel Engliš, attempted to end the deflationary policy by devaluating the Koruna, while maintaining the gold standard. In opposition to Engliš, the Social Democrats proposed to leave the gold standard. Many political parties throughout the Czech lands proposed different solutions for recovery, which caused political imbalance and hindered the ability of the economy to recover. Ultimately, the gold standard was abolished and the Ministry of Finance was deemed incapable of solving the economic problems at that time.
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In 1935 the SDAP published the 'Plan of Labour' (Plan van de Arbeid), which included plans to increase employment, nationalise vital industry and implement a system of unemployment benefits. The confessional- liberal government rejected the socialist proposals for economic reform. After 1936 however it changed its course, giving into socialist demands by devaluating the guilder and allowing the national debt to rise in order to increase employment. In reaction to this moderate course a group of orthodox Marxist members, led by Jacques de Kadt, left the party to form the Independent Socialist Party.
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Marcos was reported to have spent PhP 100 for every PhP 1 that Osmena spent, using up PhP 24 Million in Cebu alone. By the following year, however, the government would be unable to pay its debts, and would decide to enter into a debt rescheduling arrangement plan with the International Monetary Fund. The stabilization plan involved in the agreement included numerous macroeconomic interventions, such as significantly devaluating the Philippine Peso. However, the inflationary effect these interventions had on the local economy brought about the social unrest which motivated the proclamation of Martial Law in 1972.
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