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Guatemala Devalues Currency For First Time In 50 Years

LADB Article ID: 074593
Category/Department: General
Date: Friday, July 15, 1988
By: Deborah Tyroler

On June 25, Guatemalan Vinicio Cerezo announced the first currency devaluation in 50 years, justified by economic problems caused by low coffee prices, and the rising cost of imports, such as gasoline. The Central Bank reported that the new exch...

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