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The 1998–2002 Argentine great depression was an economic ... when a New York judge ordered Argentina to pay hedge funds the full interest on bonds it had swapped at ...
Along with a trade imbalance and balance of payment problem, the need for credit to finance its budget deficits made Argentina's economy vulnerable to economic crisis and instability. In 1999, the economy of Argentina shrank by 3.4%. GDP continued to decline: 0.8% in 2000, 4.4% in 2001, and 10.9% in 2002.
Argentina's currency board established a fixed pegging of one-to-one parity between the peso and the U.S. dollar. It also guaranteed full convertibility of pesos into U.S. dollars. The government hoped to establish local and international credibility in the peg and to limit the amount of local control over monetary and fiscal policy.
Argentina has faced several economic crises, such as: The Rodrigazo (1975) The 1989 riots in Argentina; The 1998–2002 Argentine great depression;
Corralito (Spanish pronunciation:) is the informal name for the economic measures taken in Argentina at the end of 2001 by Minister of Economy Domingo Cavallo in order to stop a bank run which implicated a limit of cash withdrawals of 250 ARS per week (at that time US$1 = 1 ARS). Electronic transfers and credit and debit card payments were not ...
B eneath a gloomy white sky, more than 100 armed police poured into the slum of Badia East in the teeming megacity of Lagos, Nigeria.. As they advanced, they cracked their batons on the unpaved streets and against the ramshackle walls of the shanties.
Minister Alfonso Prat-Gay takes part in meetings with the IMF and the World Bank, shortly after the end of the default.. The Argentine debt restructuring is a process of debt restructuring by Argentina that began on January 14, 2005, and allowed it to resume payment on 76% of the US$82 billion in sovereign bonds that defaulted in 2001 at the depth of the worst economic crisis in the nation's ...
A person living with depression can feel sad or hopeless, lose interest in previously enjoyed activities, experience negative changes in sleep or appetite, and struggle to complete tasks ...