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argentina

Background

Protectionist and populist economic policies in the post-war era led to economic stagnation and hyperinflation in the 1980s. Carlos Menem of the Partido Justicialista (PJ, known as the Peronists), who was elected president in 1989, abandoned the party's statist ideology in favour of market economics and liberalisation, resulting in a period of rapid growth. Mr Menem's failure to deepen fiscal and structural reforms in his second term (1995-99) left the economy vulnerable to a series of external shocks in 1997-99. Fernando de la Rua's centre-left government, which was unable to halt the economic decline, collapsed after two years in office in December 2001 amid violent protests. A Peronist, Eduardo Duhalde, was elected president by Congress at the start of 2002.

Political str...

Posted by: Rebecca Wyant

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