MINTs (Mexico, Indonesia, Nigeria, Turkey)

1. An acronym coined by the major investment firm Fidelity in 2011 for a group of four
countries—Mexico, Indonesia, Nigeria and Turkey—that are expected to show strong
growth and provide high returns for investors over the coming decade.
2. The MINTs have been grouped together because of their large populations, favorable
demographics and emerging economies.
3. The MINTs have smaller economies than the BRICs—Brazil, Russia, India and China, a
group of emerging-market economies that enjoyed strong growth for a number of years—
but as the BRICs’ growth slowed (with the exception of China), investors turned their
attention to MINTs, which analysts expected to be the next big thing.
4. Despite their prospects for becoming part of the top 10 global economies by 2050,
MINTS are far from a surefire investment.
5. These countries are still troubled by corruption and political instability, and may have
experienced significant problems in the not-so-distant past.
6. For example, Turkey experienced an economic crisis and had to be bailed out by the
International Monetary Fund in 2001, but the country has become a viable investment
since it has implemented changes designed to prevent the recurrence of those problems.
7. MINTs also have large, young populations, which make for a strong work force; have
legal systems favorable to business growth; have governments that are pro-economic
growth; are geographically well-positioned for trade; and aren’t overly dependent on a
single industry.
8. Nigeria is included because of its natural resources, large population, well-regulated and
well-capitalized banks, and opportunities to expand retail credit.
9. Mexico is expected to grow as the U.S. economy recovers further from the recession of
2008, and Indonesia’s workforce is considered a major asset.
10. The MINTs are also poised to become major exporters of both raw and finished goods,
and Nigeria, Mexico and Indonesia are already major oil exporters.
11. Indonesia is also growing thanks to its coal exports to China, and Nigeria has the largest
economy in Africa.
12. Turkey may be the weak link in the bunch, as it struggles with high inflation and doesn’t
produce commodities.
13. Still, investors hope that MINTs will prove to be as savvy an investment as the BRICs
did, with strong growth in GDP and stock prices.

Mint Ratio
1. The price of an ounce of gold divided by the price of an ounce of silver. The mint ratio
aims to examine the relationship between gold and silver prices.

2. A fixed rate of exchange for gold and silver.

3. As a large producer of both gold and silver, the United States at one time participated in
bimetallism, a monetary standard where the value of the country's monetary unit is
defined as the equivalent of either a certain quantity of gold or silver.

4. Such a system establishes a fixed rate of exchange for the two metals - or a mint ratio. If
the mint ratio was 15, for example, one could trade 15 ounces of silver for one ounce of
gold. Gold and silver are measured in units called a "troy ounce," which is equal to
31.1034768 grams.