Abstract

RAPOPORT, Mario. The Currency Board Plan and the Argentine economy, 1991-2001. Ciclos hist. econ. soc. [online]. 2023, vol.34, n.60, pp.1-1. ISSN 1851-3735.

Theaccumulationprocessbasedonthefinancialvaluationstartedtogivesignsofbeingunmistakably worn out in Argentina at the end of the 1980’s. This regime had beenestablishedfromthefinancialreformof1977andthetradeopeningof1979.Itwascharacterizedbya fierce redistribution of income against wage earners during the military dictatorship, in which theState acted as a catalyst of resources to the most concentrated sectors of domestic and internationalstock.Between1989and1990,wewitnessedanacutehyperinflationaryprocessononehand,andonthe other hand, a State under a deep economic crisis. Through a series of economic policies thatculminated in the Plan of Convertibility, the Menem administration tried to find a solution to thissituationofbankruptcy,adaptingtheireconomicpoliciestotheinterestofforeigncreditorsandlargelocalandinternationalconglomerates.The next government, headed by De la Rúa, continued with Convertibility, but the economy had already entered a continuous recession, aggravated by the deepening of austerity and indebtedness. Finally, the crisis broke out in 2001, with very negative economic, social and political consequences, which demonstrated the infeasibility of the convertibility model and the neoliberal reforms.

Keywords : Argentina,convertibility,austerity,crisis.