The answer is that adjusting to the end of the commodity boom, which benefited South America particularly, has taken longer than expected. Between 2003 and 2010 China’s industrialisation boosted demand for minerals, oil and foodstuffs. Commodity prices fell steadily between 2010 and 2015. As export revenue shrank, the region’s currencies weakened, curbing imports and pushing up inflation.
Latin America also faces a fiscal squeeze. The commodity boom temporarily boosted tax revenues. Too many governments spent, rather than invested or saved, this windfall. The primary fiscal deficit (ie, before interest payments) in the region as a whole increased from 0.2% of GDP in 2013 to 2.6% last year. In other words, public debt is rising. Many governments have started to retrench. Few are in a position to prime the pump of recovery.
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The Wilderness Road was important to settlers in Virginia and Tennessee as well as Kentucky. Settlers used the road before it passed the Cumberland Gap to reach Virginia, and northeast Tennessee.
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Organized structure describes a system for accomplishing and connecting the activities that occur within a work organization.
An organization is a group of people working together, such as a neighborhood association, charity, union, or business. The word organization can be used to refer to a group or corporation or the act of forming or establishing something.
An organization is an official group of people such as a political party, corporation, charity or association. Most of these technical schools are provided by volunteer organizations. ... Reported by the International Labor Organization. Synonyms: Synonyms for groups, companies, associations, associations, and organizations.
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