Argentina Economic Crisis Case Study
Latest Argentina Economic Crisis
Names
Kuoy Nora
CamEd Business School
What policies (monetary, fiscal or others policies) did the government employ in order to resolve the crisis?
Every problem is always corresponding by the solutions. Likewise, for the economic crisis which is known as the Great Depression that occur in Argentina between 1998 to 2002 also has the solutions, too. However, in order to implement the solutions effectively and successfully, there always need the intervention in the form of best practice from the government itself. Therefore, during the economic crisis, Argentina government had conducted so many economic policies such as monetary policy as well as fiscal policy to ensure that the economic could brought back to the growth.
The first policy that we’re going to mention about is The Monetary Policy that have conducted by the Argentina Government. In the second quarter of 2002, the peso currency was fall in value to 3.6 pesos for one-dollar exchange rate and cause
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Specifically, GDP had dropped down dramatically by 20 percent in total on its original GDP in just nearly 5 years between 1998 to 2002. In the meantime, the country poverty rate is 18.2 percent in 1998 and increase to 42.3 percent in 2002. This is the worst crisis on the Argentina economy as it’s not resolvable under the macroeconomic policies that have conducted by the government. However, everyone was expected on what is unexpected. Argentina economic start to grow in the second quarter of 2002 without needing the help from any international institute such as IFIs (International financial institutions) or IMF (International monetary fund) that had help the country before the collapse with many macroeconomic policies as well as their
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