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The peso's one‑to‑one peg strangled Argentina's ability to adjust
A president flees Buenos Aires by helicopter while citizens watch outside banks-how did the peso’s dollar peg bring this collapse?
The peso's one‑to‑one peg strangled Argentina's ability to adjust
In this episode, we trace the chain of policy choices and external shocks that led to Argentina’s frozen accounts and political collapse in December 2001. How did a currency law designed to cure hyperinflation become the mechanism that prevented economic adjustment when crises arrived?
Person: Fernando de la Rúa
Date: December 20, 2001
Policy: Convertibility plan (peso pegged 1:1 to US dollar…
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