This week: The $20 Bill, Brazil, and Ecuador
$20 Bill:
What happened?
This week, the US Treasury announced its decision to replace Andrew Jackson with Harriet Tubman on the $20 bill. In addition, more women and civil rights activists will be added on other bank notes.
Why is this important?
Gone are the days when our cash will only feature white men. This change is one step closer to more inclusion for women and people of color, especially considering the fact that Harriet Tubman happens to fall under both categories. The decision is also historically symbolic, with an abolitionist replacing a slaveholder on one of our most-used bills. However, this was not always the plan. Last year, when this plan was in its early stages, there was talk of a woman gracing the front of the $10 bill, a bill that is not nearly as used as the $20 bill. While there has generally been support for the change, there are also a bunch of other opinions about it as well.
Brazil:
What happened?
This week, the Brazilian Senate voted to try Brazil’s president, Dilma Rousseff, for impeachment, citing manipulated budget accounts.
Why is this important?
Basically, the Brazilian Senate is accusing Rousseff of lying about the status of Brazil’s economy, allowing for increased government spending (including the 2014 World Cup, which was not good for Brazil). Considering the declining state of Brazil’s economy after its recent economic boom, it is no surprise that Brazilian politicians have begun to play the blame game. While Rousseff is being accused, many of the politicians leading the motion to impeach her are also facing corruption allegations.
Ecuador:
Source: AP
What happened?
This week, a 7.8 magnitude earthquake hit the coast of Ecuador. The South American nation is currently in a state of crisis as the death toll rose to over 600.
Why is this important?
After the country’s worst earthquake in decades, areas of Ecuador’s coast have been completely destroyed. This earthquake’s arrival also happened at a bad time, when the nation was undergoing the process of rebuilding at a time of reduced oil revenues, which Ecuador relies on pretty heavily. The damage is estimated to cost anywhere between $2 to $3 billion in the midst of tough financial time for Ecuador.