Tag: crisis

Dollarization Is About Who Pays to Clean Up Argentina’s Mess
Business

Dollarization Is About Who Pays to Clean Up Argentina’s Mess

Javier Milei knows how to create a stir. Not only has Argentina’s president-elect shaken up his own country’s politics. He also has sparked a global debate about inflation, economic reform and dollarization—and, even more unusual, an interesting debate about these things. It’s a Thanksgiving-week miracle.Critics of Mr. Milei’s pledge to ditch the dysfunctional peso and embrace the almighty dollar have focused on relatively narrow questions: whether Argentina holds enough dollar reserves to implement such a policy, whether it is likely to have the fiscal discipline to sustain it, whether the banks could survive it, and so on.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
CEO Dube seeks to douse fire lit by lawyers’ closure claims
Business

CEO Dube seeks to douse fire lit by lawyers’ closure claims

A day after its lawyers declared in the Delhi High Court that Akasa Air might be forced to cease its operations following the resignations of 43 pilots, co-founder and Chief Executive Vinay Dube on Wednesday sought to allay stakeholder concerns. He assured employees in an email that the airline’s future and growth path were intact. The airline's statement in the court that it was in a "state of crisis" and had been cancelling 24 flights a day in September came even as it received permission from the Civil Aviation Ministry on September 11 to start international operations. The airline is looking at South Asian, Southeast Asian, and West Asian destinations for its international flights. The airline is undergoing severe turbulence due to the abrupt resignations o...