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Cuba: Government to Eliminate Dual Currency

Date: October 25th, 2013 | No Comments

The Cuban government has approved a plan to eliminate its dual currency system, working instead on merging the two forms of money over time. The two local currencies are the peso (CUP), which is used to pay local wages and purchase local goods, and the convertible peso (CUC), which is used in the tourism industry [read more]

Greece: Tensions Rise in Athens as more Strikes are Planned

Date: October 17th, 2011 | No Comments

Tensions are rising in Athens as new strikes are planned for mid-October in response to the government’s latest austerity measures. Alongside the picture of enormous lines at gas stations due to a strike of refinery workers is the piling up of trash, a result of the ongoing strike by municipal workers and garbage collectors. Public [read more]

Libya: Tourists Must Carry $1,000

Date: January 10th, 2008 | No Comments

A policy that took effect Nov. 11 requires tourists to Libya to have their passports translated into Arabic before arrival, and another policy put in place Jan. 7 requires that all tourists carry at least $1,000 or its equivalent in convertible currency or be denied entry. Anyone coming on official business, to study, to visit [read more]

Argentina: Coin Shortage Bedevils Buenos Aires

Date: November 9th, 2007 | No Comments

Coins are hard to come by in Buenos Aires, so finding exact fare for buses or getting exact change back from merchants cannot be counted on. The shortage is blamed on people hoarding coins and bus companies that exploit the shortage by selling their coins to business owners for a small fee, around three percent. [read more]

Uruguay

Date: August 6th, 2002 | No Comments

A financial crisis tied to Argentina’s economic meltdown caused a run on banks and ultimately the closure of all financial institutions for the better part of a week. Riots, looting and widespread protests occurred until a pledge of aid from the U.S. government allowed the banks to reopen Aug. 5. Tensions remain high and citizen [read more]

Thailand: Officials Consider Mandatory Entrance Fee

Date: October 25th, 2013 | No Comments

Thailand may soon require a $16 entry fee for tourists in an attempt to cover unpaid medical bills racked up by foreign visitors. The estimate for tourist-related medical debt in Thailand is roughly $23 million per year. Officials say that the Interior Ministry, Health Ministry and Tourism Ministry have agreed on the terms of the [read more]

Italy: Thousands Protest Austerity Measures

Date: September 13th, 2011 | No Comments

Tens of thousands of Italians took to the streets Sept. 6 to protest the government’s latest round of austerity measures. The strike resulted in the cancelation of flights, trains and buses and the closure of government offices. The Italian General Confederation of Labor (CGIL)—Italy’s largest union—called for the general strike and is demanding stronger action [read more]

India: U.S. Dollars No Good at Taj Mahal, Other Venues

Date: November 20th, 2007 | No Comments

The weakness of the U.S. dollar against foreign currencies is old news, but now even in India the dollar’s woes are getting people’s attention and moving government to change policies. The culture ministry abandoned it’s long-standing practice of pricing entrance to World Heritage Sites such as the Taj Mahal in dollars for foreigners because the [read more]

Argentina: Airline Strike Settled, Counterfeit Money Problems

Date: December 6th, 2005 | No Comments

Counterfeit money can be a problem here, especially in Buenos Aires. Taxi drivers are the most common distributors of bogus currency, giving fake 10s and 20s when making change for fares, but phony bills sometimes get into ATMs, where theres little protection for the victim besides luck. One way to avoid these notes is to [read more]

Argentina

Date: April 30th, 2002 | No Comments

After a 10-day shutdown, banks reopened April 29 following passage of a law that prevents massive savings withdrawals. Such withdrawals had caused a run on banks and threatened the country with financial collapse. ATMs are again the best way for travelers to obtain local currency. Traveler’s checks are inconvenient even in Buenos Aires and difficult [read more]






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