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:
“At twelve, the disintegration of afternoon
Began, the return to phantomerei, if not
To phantoms. Till then, it had been the other way:
One imagined the violet trees but the trees stood green,
At twelve, as green as ever they would be.
The sky was blue beyond the vaultiest phrase.”
—Wallace Stevens (1879–1955)
“Our needs hourly
Climb and return like angels.
Unclosing like a hand,
You give for ever.”
—Philip Larkin (1922–1986)
“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)