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And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina by Paul Blustein

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Chronology: Road to Ruin

BOOM YEARS:1991–1998

1991

APRIL 1 At the instigation of Economy Minister Domingo Cavallo, Argentina adopts the convertibility system, which rigidly fixes the exchange rate at 1 peso = $1.

1991–94

Inflation subsides, reaching negligible levels by mid-decade. Economic growth soars as the government embarks on a program of deregulating the economy, lowering trade barriers, and privatizing state owned enterprises.

1995

Argentine financial markets are battered by the Mexican peso crisis and the economy falls into a brief recession.

1996–98

The economy rebounds, and money pours in from abroad.
005

1996

JULY Roque ...

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