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:
“... one cannot be happy in exile or in oblivion. One cannot always be a stranger. I want to return to my homeland, make all my loved ones happy. I see no further than this.”
—Albert Camus (1913–1960)
“The return to solid values is always hard.... Distress, panic, and hard times have marked our pathway in returning to solid values.”
—James A. Garfield (1831–1881)
“Parents find many different ways to work their way through the assertiveness of their two-year-olds, but seeing that assertiveness as positive energy being directed toward growth as a competent individual may open up some new possibilities.”
—Fred Rogers (20th century)