They must now repay these loans despite a devalued currency and loss-making chip operations.
Look for a devalued currency and a very long period of hardly any cost of borrowing money.
This is the reason many investors refrain from playing too much in territories that could lead to sharp losses on a sudden movement, like a devalued currency.
Battered by a property crash, a banking crisis, a devalued currency and a decline in exports, the beleaguered economy provides a challenge for even the most competent of administrations.
It's the fifth time the Venezuelan government has devalued its currency in the past decade.
CNN: With Chavez away for months, big changes roil Venezuela
Well, they devalued the currency by about 25% and began to cut spending.
FORBES: Britain's in Recession Again: But Delong and Krugman Really Shouldn't Chortle So
Each country would have merrily devalued its currency to increase competitiveness and promoted inflation to eat up the debt pile.
Traditionally, when Italy wanted to restore its competitiveness, it devalued its currency.
This week, the country devalued its currency, creating fear among some Venezuelans that the move would mean a sharp spike in the cost of imported goods.
Workers complain that since the government devalued the local currency, the kwacha, by 49% in May, their incomes have been badly affected, he says.
Your currency is devalued, stocks and other risky assets will rise, and inflation will slowly, but surely start to creep in.
When Argentina's government defaulted and its currency was devalued against the dollar in 2001-02, foreign banks' assets took a double hit.
The idea here is that if the country currency is devalued, then it will be easier for its producers to sell their goods overseas.
FORBES: Swiss National Bank Cruelly Puts a Bull's Eye On Switzerland's Economy
Last month, Mrs Banda devalued Malawi's currency, the kwacha, by one third against the dollar - a move Mr Mutharika resisted, despite demands from the IMF.
The common workingman does not have the ability to do this, and finds only that his salary and domestic assets (savings, real estate, small local businesses) have been devalued along with the currency.
FORBES: Ask Greek Citizens About Soft (Drachma) Money, And If They Like It
From a rate of 3.4 ringgit to one dollar, the currency was devalued to 3.8, well below the then market rate, so investors had little incentive to take their money out by illicit means.
Eugene: If Greece leaves the Euro and issues Drachmas, that currency will be devalued by 60% almost overnight.
He was lucky not to be badly hit when the Thai currency was dramatically devalued during the 1997 Asian financial meltdown.
So devalued is Zimbabwe's currency that the bank was forced to announce this week that it would allow some shops to trade in foreign exchange.
ECONOMIST: Can Zimbabwe's long-awaited power-sharing deal endure?
The local currency could be devalued based on an agreed upon schedule or allowed to float within a specified range in order to restore competitiveness and economic growth in the local market.
Like marriage, the currency of fatherhood had been seriously devalued.
Today, many people think that Greece should leave the eurozone and introduce a new currency, whose sole purpose is apparently to be devalued.
FORBES: Ask Greek Citizens About Soft (Drachma) Money, And If They Like It
On Thursday, Iran's central bank devalued the rial by 8% against the dollar and ordered all currency-exchange shops to adhere to the official rate or be shut down, according to Iran's official media.
Nixon devalued the dollar by something less than 20 percent (the percentage was different depending on the currency) and within 18 months American trade was back strongly in the black.
Worse, with consumer prices sticky in concert with commodity prices that are most sensitive to dollar-price movements, the beneficiaries of the money illusion tend to be the hard, unproductive assets of yesterday (think housing, art, rare stamps, and oil) that are least vulnerable to currency weakness, and which in fact do best when the unit of account is devalued.
应用推荐