Argentina is stuck in a time warp. Political and economic reforms over the past decade were supposed to lead the country out of chronic economic crisis. In April 1991 Economy Minister Domingo Cavallo linked the Argentine Peso to America’s dollar at a rate of one to one, kicking off an era of radical reform. Yet ten years later, the same Signor Cavallo is trying to fend off recession and government default.
Argentina is stuck in a time warp. Political and economic reforms over the past decade were supposed to lead the country out of chronic economic crisis. In April 1991 Economy Minister Domingo Cavallo linked the Argentine Peso to America’s dollar at a rate of one to one, kicking off an era of radical reform. Yet ten years later, the same Signor Cavallo is trying to fend off recession and government default.