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The Argentine government implemented a currency board and currency peg in 1991 to bring down hyperinflation. This initially stabilized the economy and saw growth until the late 1990s. However, the pegged peso appreciated as the dollar strengthened, hurting exports. When foreign investors lost confidence in emerging markets due to crises elsewhere, Argentina could no longer finance its current account deficit and was shut out of international markets in 2001, causing its financial crisis. Bajaj Auto would
- Author
- Sumeet Madwaikar
- Language
- EN