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:
“Lise: Look, monsieur, I don’t know what type of girl you think I am, but I’m not. And now I would like to return to my friends.
Jerry: I thought you were bored with them. You sure looked it.
Lise: You should see me now.
Jerry: Ouch.”
—Alan Jay Lerner (1918–1986)
“Real kindness seeks no return;
What return can the world make to rain clouds?”
—Tiruvalluvar (c. 5th century A.D.)
“We already have the statistics for the future: the growth percentages of pollution, overpopulation, desertification. The future is already in place.”
—Günther Grass (b. 1927)