Return To Growth
In January 2002 Eduardo Duhalde was appointed president, becoming Argentina's fifth president in two weeks. Roberto Lavagna, who became Minister of the Economy in April 2002, was credited for the ensuing recovery of the economy, having stabilised prices and the exchange rate in a moment when Argentina was at risk of hyperinflation. Since the default in 2001, growth has resumed, with the Argentine economy growing by over 6% a year for seven of the eight years to 2011. This was achieved in part because of a commodity price boom, and also because the government managed to keep the value of the currency low, boosting industrial exports.
Read more about this topic: Economic History Of Argentina
Famous quotes containing the words return to, return and/or growth:
“We draw our Presidents from the people. It is a wholesome thing for them to return to the people. I came from them. I wish to be one of them again.”
—Calvin Coolidge (1872–1933)
“I never saw so sweet a face
As that I stood before:
My heart has left its dwelling-place
And can return no more.”
—John Clare (1793–1864)
“The windy springs and the blazing summers, one after another, had enriched and mellowed that flat tableland; all the human effort that had gone into it was coming back in long, sweeping lines of fertility. The changes seemed beautiful and harmonious to me; it was like watching the growth of a great man or of a great idea. I recognized every tree and sandbank and rugged draw. I found that I remembered the conformation of the land as one remembers the modelling of human faces.”
—Willa Cather (1873–1947)