A I R S h a r e

A Workforce Globalization Blog

How is political change impacting Argentina's economy?

Oct 24, 2019 @ 06:22 AM / by Alex Davis

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On August 11th, Argentina held primary elections ahead of the general election scheduled for October 27th. Center-left candidate Alberto Fernandez and running mate former President Cristina Fernandez de Kirchner defeated center-right President Mauricio Macri. This result created uncertainty about the future of Argentina’s economic policy. Many investors pulled their money out of Argentina, and ratings agencies such as Fitch and Standard & Poor’s downgraded their credit rating. The peso experienced rapid and significant devaluation against the dollar, losing roughly 20% of its value in a matter of days. In an effort to stabilize the peso, Macri re-instituted currency controls that had been eliminated in 2015.

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Currency and Payment in Zimbabwe

Oct 10, 2019 @ 02:00 AM / by Meleah Paull

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During the August survey of Harare, our visit found the Zimbabwean economy in a state of transition. This June, after a decade of using a mix of approaches but primarily relying on the U.S. dollar for transactions, the Reserve Bank of Zimbabwe announced that a new Zimbabwean dollar (ZWL), also known as the Zimdollar, was the only acceptable form of payment.

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What can you do to protect your international assignees when home or host currency weakens?

Sep 19, 2019 @ 09:45 AM / by Tom Healey

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When an expatriate’s home country currency weakens, what do you do? In my recent post, I talked about the importance of initiating an increase in their goods and services allowance because the employee’s salary portion, meant to be spent on their market basket, will no longer go as far once converted into their host currency.

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Part 5 of 5: Economic Volatility: Best Practices for Managing Your Mobility Program Over Time

Aug 01, 2019 @ 12:01 AM / by Gerald Abbey

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Control program costs while meeting assignee needs via well-designed policies that address economic changes over time. Access the recording to learn how to:

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COLA in an age of Global Volatility [webinar recording]

Nov 02, 2018 @ 06:29 AM / by Michelle Curran

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COLA is affected by complex economic factors like exchange rate fluctuation and economic volatility, which are highly unpredictable. For a COLA to be effective, the allowance must be reviewed and updated periodically to take these factors into account.

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The Impact of Volatility in Emerging Markets: Argentina, Turkey, Brazil, and more!

Oct 23, 2018 @ 10:38 AM / by Genie Martens

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News about extraordinary economic volatility in major emerging market countries such as Argentina, Brazil, Turkey, South Africa, and others has global mobility departments questioning whether they need to take any special measures to address the concerns of their international assignees.

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ALERT: Currency chaos continues in one of the world's most volatile economies

Aug 27, 2018 @ 12:19 PM / by Morgan Grenier

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The economy of Venezuela continues to be one of the most volatile in the world. On Friday, August 17, President Nicolas Maduro announced the devaluation of the Bolivar Fuerte (VEF) from about 250,000 to 6,000,000 VEF to 1 USD.

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ALERT: Turkish Lira Crisis

Aug 15, 2018 @ 04:01 PM / by Meleah Paull

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The Turkish lira has had a volatile year and an especially tumultuous past week. In July, the Central Bank of Turkey alarmed investors by keeping interest rates steady even as CPI annual inflation rose to double digits.

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State-backed Cryptocurrency and Redenomination of the Bolivar

May 11, 2018 @ 12:39 PM / by Alex Davis

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Critics say this is merely a superficial solution and will do nothing to combat hyperinflation. This announcement followed presidential candidate Henri Falcon’s proposal to dollarize the Venezuelan economy.

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Iran Unifies Official and Open Market Rates of the Rial

Apr 10, 2018 @ 04:18 PM / by Morgan Grenier

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Last night, the Central Bank of Iran (CBI) announced that it was unifying the country’s official and open market rates, after an emergency meeting regarding the rapid depreciation of the open market rate that took place over the past week.

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