another part of the Croatia Email List governing alliance. We understand that by taking this path at least five relevant points are omitted in the logic of seeking a better future. These omissions are based on a peculiar readingof the structures on which it operates. First, the idea is sustained that there is an external restriction that is operative by virtue of commercial Croatia Email List currencies; that is, the old external constraint based on unequal exchange. Although valid, this reading omits that the main routes for foreign currency outflows today are not commercial, but, centrally, Croatia Email List capital flight. In substance, this drain on resources is financed with debt during neoliberal governments and with trade dollars under the “non-neoliberal” trials, but the resources always go away.
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It is worth noting that the Croatia Email List Frente de Todos supported the architecture of capital and exchange controls left over from the previous government, which has partly contained the flight. It is impossible to forget that much of it Croatia Email List originates from the unequal distribution of income, that makes those who have investible surpluses prefer to hoard in foreign currency. Likewise, it should be noted that poor legislation and minimal levels of Croatia Email List control have allowed large companies to deploy different forms of flight through commercial Croatia Email List mechanisms (under-reporting of exports and over-invoicing of imports) and financial (self-loans). Credit and foreign investments, for their part, make a.
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meager net contribution of Croatia Email List foreign exchange: in two decades they have contributed less than a year of trade balance. On the other hand, they do contribute their problems: they create systematic outflows of currencies, at the same Croatia Email List time that they add a factor of instability originated in their own dynamics. Any trained heterodox will recognize these problems, but there does not seem to be the same impetus in recognizing the urgent need Croatia Email List to modify the framework of current legality that supports them. There, for example, the laws of Financial Institutions and Foreign Investments, or the more than 50 bilateral investment treaties in force, stand out.