Argentina’s decade under the convertibility regime saw the peso pegged to the dollar, stabilizing inflation but limiting flexibility. Economic growth surged initially, attracting foreign investment and fostering consumer confidence. However, as structural weaknesses persisted, unemployment and debt rose sharply. By the early 2000s, the rigidity of the regime led to a financial crisis, forcing Argentina to abandon the peg.
- New Yorker
- 04/25/2024
- Article / Op-Ed Link