UCF Global Perspectives

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Tag Archives: economy

Zimbabwe Bans Foreign Currencies

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On Monday, Finance Minister Mthuli Ncube announced that the Zimbabwe dollar will be the only legal tender in the country (AP). Since 2009, people and local businesses have been using foreign currencies in response to the country’s hyperinflation (AP). President Emmerson Mnangagwa stated that the economy was “now functional enough” to use its own currency […]

Venezuelan Government Seizes General Motors Auto Plant

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The Venezuelan government seized a General Motors factory and other company assets on Wednesday, causing significant damage to the company and its workers (AP). According to a company statement, General Motors will take “all legal actions” to defend its rights against the “illegal judicial seizure of its assets” (Reuters). The seizure came amongst violent protests […]