11.   But the government chose not to run the risk of social turmoil from devaluing the peso, which would have made popular foreign goods more expensive at home.

12.   By devaluing the peso today, the central bank admitted the peso was too high.

13.   Cavallo promised to make Argentina more competitive without devaluing the peso or ending the decade-old currency board system that pegs its value to the U.S. dollar.

14.   Dole, for one, blamed Clinton for failing to use levers within NAFTA to prevent Mexico from devaluing the peso.

15.   Economists say now that Mexico should have devalued its peso much more gradually -- and should have started doing so a long time ago.

16.   Even though he made his forecast two years before the peso was actually devalued, the devaluation enhanced his stature in the Latin American country.

17.   Ever since the Mexican government devalued the peso in December, Argentina has insisted that it is not Mexico and will not face a similar crisis.

18.   Friday marked one month to the day since the Mexican government set off the current economic crisis by devaluing the peso.

19.   He also denied that Argentina would devalue its peso, saying such a move would not get to the root of the problem.

20.   He is also putting more money into emerging markets funds, which were slammed when Mexico devalued the peso late last year but have rebounded somewhat.