History shows that the best thing a country can do to get out of dire financial straits is to make structural reforms.
But it can take years - long, difficult years - for the country that's attempting reform, and the politicians responsible have a funny way of not getting re-elected.
Now we have proof from the International Monetary Fund, which is meeting in Peru right now, of why countries are using this method more often today. The IMF has released a strategically timed report that confirms currency devaluation is effective at boosting a nation's GDP.
Currency wars don't really help in the long run, of course. Debt weighs even more heavily, and the piper must always be paid.But these bouts of currency manipulation can create huge opportunities for savvy investors...