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The 2018–present Argentine monetary crisis is an ongoing severe devaluation of the Argentine peso, caused by high inflation and steep fall in the perceived value of the currency at the local level as it continually lost purchasing power, along with other domestic and international factors.
When the peso was first linked to the U.S. Dollar at parity in February 1991 under the Convertibility Law, initial economic effects were quite positive: Argentina's chronic inflation was curtailed dramatically and foreign investment began to pour in, leading to an economic boom.
The effect has been known since the ending period after World War I. Italian economist Costantino Bresciani Turroni described a similar phenomenon for the German hyperinflation. Previous to the Tanzi paper, a common hypothesis was that the tax administration had somehow become less efficient than before the previous of high inflation.
Argentina has come out of a deep recession in a major ... The news of the economic rebound comes a year after Milei was elected on a ticket to tackle chronic hyperinflation and overhaul the long ...
Evolution of GDP growth. The economic history of Argentina is one of the most studied, owing to the "Argentine paradox". As a country, it had achieved advanced development in the early 20th century but experienced a reversal relative to other developed economies, which inspired an enormous wealth of literature and diverse analysis on the causes of this relative decline. [2]
Javier Milei swept to power in Argentina a year ago on a ticket to tackle chronic hyperinflation and overhaul the long-suffering economy. In one regard — slashing the size of the state — he ...
Argentina's first budget surplus in 12 years has come at a steep cost. Milei halted inflation increases for university budgets , leaving some universities struggling to keep their lights on and ...
The Convertibility plan was a plan by the Argentine Currency Board that pegged the Argentine peso to the U.S. dollar between 1991 and 2002 in an attempt to eliminate hyperinflation and stimulate economic growth. [1]