"In the first half of the current year, the Central Bank has not allocated any exchange for the import of drugs and medical equipment, " she said.
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The alternative, a foreign-owned holding company, must operate under tight restrictions that forbid, for example, inter-company loans, foreign-exchange balancing, import-export, or even consolidated accounts across the subsidiaries.
One reason the strengthening of the yuan will play into the hands of the Chinese consumer is that a stronger exchange rate cheapens import prices, giving consumers greater purchasing power.
And low rates will also boost credit creation in those developing countries that import American monetary policy via managed exchange rates.
Lack of foreign exchange makes it hard to import even the barest necessities.
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Similarly, they may raise rates if a weak exchange rate threatens to push up import prices.
Venezuela's government has stopped issuing import permits, nor is it providing dollars at the official exchange rate for imports from Colombia (a dollar costs almost three times more on the parallel market).
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Economists reckon that in the 1990s only about half of an exchange-rate change had worked its way through to manufacturing import prices after a year.
An exchange of ambassadors could lead to Vietnam getting Most-Favored Nation trading status and Export-Import Bank loans, critical for buying high-priced items such as aircraft.
In the public sector, Bill Casey served as Chairman of the Securities and Exchange Commission, Undersecretary of State for Economic Affairs and President of the U.S. Export-Import Bank.
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