Argentina 's Turbulent History Of Economic Crisis Essay

Argentina is one of the largest countries in the world. It is sitting at the eighth largest country. It is filled with many valuable minerals. Also, Argentina has a great background of history. It was discovered by Juan D?az de Sol?s in early 16th century. It was disputed and is still being disputed today! Sebastian Cabot went exploring in 1526. He established a fort named Sancti Sp?ritus. Then in 1529, the natives of Argentina wiped out the whole fort, while Cabot was out looking for the ?City of Caesars.? Asunci?n and Buenos Aires played an important role in the rise of Argentina. It lured many settlers from Spain. After the Independence Movement, the area went through some tough times. The country fought until they were free from Spain. The government declared independence on July 9, 1816. A few years after that, the government fell apart.

Globalization in Argentina has affected the country in numerous ways. There are many positives and negatives. Until 1999 globalization seemed to be the reason the country was so prosperous. Pope John Paul II stated, “From the ethical point of view, can be positive or negative. In fact, there is an economic globalization which brings some positive consequences, as the phenomenon of efficiency and increased production and, with the development of relations between countries in economic, can strengthen the process of unity among peoples and make a better service to the human family. However, if globalization is ruled merely by the laws of the market applied to suit the powerful, leads to negative consequences. Such, for example, the

On April 1, 1991, Argentina’s Congress, with Domingo Cavallo as Minister of Economy, enacted the Convertibility Law (or Ley de Convertibilidad) legally adopting the currency board (Hornbeck, 2002). This legislation essentially pegged the Argentinean peso to the U.S. dollar. The government guaranteed the convertibility of the peso to U.S. dollar at a one-to-one exchange rate, limiting the printing of pesos to only those necessary to purchase dollars in the foreign exchange market. Thus, the central bank was required by law to hold foreign reserves to cover its peso liabilities (Hanke and Schuler, 2002). With this fixed exchange rate, the Argentinean government was hoping to preserve the value of their currency and stabilize inflation. The peg was initially successful, as it cured hyperinflation that occurred at the end of the 1980s and provided price stability needed for economic growth in the early 1990s. However, by the late 1990s,

Sin embargo, a raíz de la crisis económica que sufrió Argentina a finales del 2001. Pecom vio reducidas sus posibilidades de seguir creciendo con la misma dimensión en la que venía operando.

Argentinian culture is a mixture of many other cultures and it has been largely influenced by Spanish colonialism and immigrants from all around the world and mostly from Europe. Buenos Aires is the capital city of Argentina. The city is also known as the cultural capital and it represents political, economic and cultural heart of the country. Argentinian culture is spreaded in lots of areas from dance to language and it has very unique sides which makes the culture extremely interesting.

The Argentine Process Of National Reorganization, more commonly known as the “Dirty War,” was a period from roughly 1974 to 1983 when the president was deposed and the entire government was taken control of by the military. This decade of civil destruction, turmoil, and human rights violations was part of the military’s plan to rid the country of the radical left and communist subversion. The junta spoke of a “New Argentina,” one full of prosperity for all its citizens, order and no longer chaos, they preached they would bring back Argentina’s glory days. For all this talk of an Argentina that would be once again a world power, no one knew of the atrocities the military would commit in the process. They did not think of the innocent lives

Did you know that Argentina has weird types of clothes and food? They have a lot of people that were famous born in Argentina. They also have different types of language than us. Argentina have a lot of beautiful landmarks and they’re weather is mostly stays in one temperature.

The documentary film “The Take” or “La Toma” shows Argentina in the midst and the aftermath of an economic collapse as unemployment skyrockets and almost half the country plummets below the poverty level. In the beginning of the documentary, shows an emerging economy transitioning into first world status comparing it to Australia or Canada where Argentina was considered the most prosperous middle-class in Latin America. However, the country took a turn for the worst under the presidential reign of Carlos Menem who drove the country into mass bankruptcy resulting in extreme poverty, exorbitant debts and record-breaking unemployment.

So, to cease, I would like one to ask himself these questions. How is Venezuela doing? Are they running successfully under a socialist leader? Well, to fill one in, they are actually far off from well. Almost their entire population is struggling to survive. Their food pantries are empty along with everything else. “Venezuela is facing the most serious economic crisis of any country in Latin America. Inflation is expected to top 400% this year and electricity companies are already failing to keep the lights on in many parts of the country. The country’s largest beer company has already shut down….”(Flannery, Nathaniel P). As one can see, socialism displays more than a little problem. Socialism is simply a trap to redistribute wealth.

Argentina had a great economic crisis since the end of 1998 until 2002. The country fell in a big national and foreign debt in years before which caused big inflation. Governments were changing a lot, and one of the tries to fix the problem was fixed exchange with the US dollar. The IMF didn't recognize this as a mistake and continued to give loans to Argentina with this strategy. The strategy was proven to be completely wrong later on. As per IMF (2004), "IMF surveillance failed to highlight the growing vulnerabilities in the authorities' choice of policies and the IMF erred by supporting inadequate policies too long" (Telegraph, p3). In simple words, IMF was giving the money and advising in a completely wrong matter, and finally, dooming the country to a complete disaster. No need to say, that the money had to be returned, with interest of course. As a matter of fact, no discounts were given to Argentina for any of the loans. The country fell in a huge crisis. The peso, currency of Argentina became so strong that export was greatly minimized. Inflation was rising, companies were shutting down. The IMF was demanding that country start cutting down the budget expenses and start saving money. The government started lowering the salary and removing the retirement benefits, which resulted in huge demonstrations and later on riots. Aftermath were several changes of government. Banks were closed, population slipped into complete poverty. Eventually, they decided to part ways with US dollar, and their fixed exchange. Economy starting getting better, and foreign trade started functioning much better. A lot of different international companies expressed interest in business with Argentina, considering peso was much easier to work with now.

The oil-rich Bolivarian Republic of Venezuela, located on the northern coast of South America, was for many decades considered among the wealthiest nations in the entire continent. While having the largest proven oil reserves in the world has often proved a tremendous boon for Venezuela, the very black gold that has been the cause of its success has also proven to repeatedly be its kryptonite. Over half of the nation’s Gross Domestic Product stems from petroleum exports – which equates to approximately 95% of total exports. It is really not too hard to imagine what drastic consequences shifts in global oil prices could have on the economy.

on the south by the Atlantic Ocean and Chile, and on the west by Chile. The

Venezuela is currently facing the worst economic crisis in history. According to the International Monetary Fund, it has negative growth of -8%, the worst in the world and the worst inflation rate (482%). The current unemployment rate is 17% though this figure is expected to climb towards 30%. Venezuela is a country that is reported to have the worlds largest oil supply, a commodity that has a changing price based on supply and demand. Their ability to sell oil was a primary source of revenue for the government. Exporting oil was reported to be around 96 percent of Venezuela's total exports according to the World Bank. In 2014 the

In 1999, over 40,000 people came to protest in the streets outside the Seattle Conference Center, where the delegates from the World Trade Organization (WTO) and the International Monetary Fund (IMF) came to Seattle to discuss new international trade agreements. Many came to protest not only against the WTO and the IMF, but also against globalization itself; Thousands were protesting for anti-globalization because of increasing concerns that certain trade and investment measures were encroaching on national sovereignty. Everyone feared that too much power was being centralized into organizations like the WTO and the IMF. Other reasons included the widening gap between the rich and the poor; the creation of

Desde 1816, un paisaje de playas preciosas, cascadas altas y poderosas, árboles grandes, y montañas gigantes, es conocido como Argentina para miles de millones y hogar para millones. Pero con caos tomando control del país, esos millones de gente estaban buscando alguien para guiarlos. En la Plata, Argentina en 1953, nació Cristina Fernández de Kirchner. Sus padres, Ofelia Esther Wilhelm y Eduardo Fernández trabajan para soportar su hija en su interés de legales. Empezó su estudio de ley en los 1970s en el National University of La Plata. Después de conocer a Néstor Kirchner, ellos casaron y tienen dos hijos, Máximo, en 1977, y su próximo hija Florencia, en 1980. Cristina y su esposo y se convirtieron en una pareja muy exitosa que llegó a