Lessons from the Crisis in Argentina

Author/Editor: Daseking, Christina ; Ghosh, Atish R. ; Thomas, Alun H. ; Lane, Timothy D.
Publication Date: February 10, 2005
Electronic Access: Link to Abstract

Summary: In 2001-2002, Argentina experienced one of the worst economic crises in itshistory. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hard ships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported program through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both forcountries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.
Series: Occasional Paper No. 236
Subject(s): Argentina | Financial crisis

Publication Date: February 10, 2005
ISBN/ISSN: ISBN 1-58906-359-7 ; ISSN 0251-6365 Format: Paper
Stock No: S236EA Pages: 60
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