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Banking In Argentina
During the 1990s, marked by President Carlos Menem's policies of liberalization, Argentina's financial system saw a significant consolidation and strengthening, in large part through foreign investment. In addition to high reserve and capital-adequacy requirements, the Central Bank of Argentina maintained a repurchase agreement with a consortium of international banks to provide a $6,000 million safety net in the event of a liquidity squeeze. Mergers and acquisitions, which decreased the number of Argentine banks from nearly 300 in 1990 to fewer than 100 at the end of 1999, were expected to continue and lead to improvements in management and efficiency. The foreign currency reserves of the Central Bank stood at nearly $25,000 million in December 1999, or over 9 months of imports. However, these reserves were used to back the monetary liabilities of the Central Bank and were not available for conducting monetary policy; by the terms of the Convertibility Law, each Argentine peso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carlos Menem
Carlos Saúl Menem (2 July 1930 – 14 February 2021) was an Argentine lawyer and politician who served as the President of Argentina from 1989 to 1999. Ideologically, he identified as a Peronist and supported economically liberal policies. He led Argentina as president during the 1990s and implemented a free market liberalization. He served as President of the Justicialist Party for thirteen years (from 1990 to 2001 and again from 2001 to 2003), and his political approach became known as Federal Peronism. Born in Anillaco to a Syrian family, Menem was raised as a Muslim,"Carlos Menem" ''Encyclopædia Britannica'' but later converted to to pursue a political career. Menem b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Argentine Economic Crisis (1999-2002)
Argentines (mistakenly translated Argentineans in the past; in Spanish (masculine) or ( feminine)) are people identified with the country of Argentina. This connection may be residential, legal, historical or cultural. For most Argentines, several (or all) of these connections exist and are collectively the source of their being ''Argentine''. Argentina is a multiethnic and multilingual society, home to people of various ethnic, religious, and national origins, with the majority of the population made up of Old World immigrants and their descendants. As a result, Argentines do not equate their nationality with ethnicity, but with citizenship and allegiance to Argentina. Aside from the indigenous population, nearly all Argentines or their ancestors immigrated within the past five centuries. Among countries in the world that have received the most immigrants in modern history, Argentina, with 6.6 million, ranks second to the United States (27 million), and ahead of other immig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2005 In Argentina
Events during the year 2005 in Argentina. Incumbents *President: Néstor Kirchner *Vice President: Daniel Scioli Governors *Governor of Buenos Aires Province: Felipe Solá *Governor of Catamarca Province: Eduardo Brizuela del Moral *Governor of Chaco Province: Roy Nikisch * Governor of Chubut Province: Mario Das Neves * Governor of Córdoba: José Manuel De la Sota *Governor of Corrientes Province: Ricardo Colombi (until 10 December); Arturo Colombi (starting 10 December) *Governor of Entre Ríos Province: Jorge Busti *Governor of Formosa Province: Gildo Insfrán *Governor of Jujuy Province: Eduardo Fellner *Governor of La Pampa Province: Carlos Verna *Governor of La Rioja Province: Ángel Maza *Governor of Mendoza Province: Julio Cobos *Governor of Misiones Province: Carlos Rovira *Governor of Neuquén Province: Jorge Sobisch * Governor of Río Negro Province: Miguel Saiz *Governor of Salta Province: Juan Carlos Romero * Governor of San Juan Province: José Luis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco De La Nación Argentina
Banco de la Nación Argentina ( en, Bank of the Argentine Nation) is a national bank in Argentina, and the largest in the country's banking sector. History The Bank of the Argentine Nation was founded on 18 October 1891 by President Carlos Pellegrini, with the purpose of stabilizing the nation's finances following the Panic of 1890; its first director was Vicente Lorenzo Casares. In its early decades it became a leading financing source for agricultural smallholders, and later for commercial and industrial businesses, as well as handling an array of public sector transactions. The bank's reputation suffered after it was revealed that bribes had been received by the board of directors in 1994 when contacting IBM for the supply of computers, software, and communication equipment, becoming a prominent political scandal at the time. Services Long a significant supplier of domestic lending in a credit-tight economy, the bank attempted—with only partial success—to revive the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2004 In Argentina
Events in the year 2004 in Argentina. Incumbents *President of Argentina, President: Néstor Kirchner *Vice President of Argentina, Vice President: Daniel Scioli Governors *Governor of Buenos Aires Province: Felipe Solá *Governor of Catamarca Province: Eduardo Brizuela del Moral *Governor of Chaco Province: Roy Nikisch *Governor of Chubut Province: Mario Das Neves *Governor of Córdoba (Argentine province), Governor of Córdoba: José Manuel De la Sota *Governor of Corrientes Province: Ricardo Colombi *Governor of Entre Ríos Province: Jorge Busti *Governor of Formosa Province: Gildo Insfrán *Governor of Jujuy Province: Eduardo Fellner *Governor of La Pampa Province: Carlos Verna *Governor of La Rioja Province: Ángel Maza *Governor of Mendoza Province: Julio Cobos *Governor of Misiones Province: Carlos Rovira *Governor of Neuquén Province: Jorge Sobisch *Governor of Río Negro Province: Miguel Saiz *Governor of Salta Province: Juan Carlos Romero (politician), Juan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2003 In Argentina
Events in the year 2003 in Argentina. Incumbents *President: Eduardo Duhalde (until 25 May), Néstor Kirchner (starting 25 May) *Vice President: vacant (until 25 May), Daniel Scioli (starting 25 May) Governors *Governor of Buenos Aires Province: Felipe Solá *Governor of Catamarca Province: Oscar Castillo (until 10 December); Eduardo Brizuela del Moral (starting 10 December) *Governor of Chaco Province: Ángel Rozas (until 10 December); Roy Nikisch (starting 10 December) * Governor of Chubut Province: José Luis Lizurume (until 10 December); Mario Das Neves (starting 10 December) * Governor of Córdoba: José Manuel De la Sota * Governor of Corrientes Province: Ricardo Colombi *Governor of Entre Ríos Province: Sergio Montiel (until 11 December); Jorge Busti (starting 11 December) *Governor of Formosa Province: Gildo Insfrán *Governor of Jujuy Province: Eduardo Fellner *Governor of La Pampa Province: Rubén Marín (until 11 December); Carlos Verna (starting 11 December) * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2002 In Argentina
Incumbents *President: Eduardo Camaño (until January 2), Eduardo Duhalde (starting January 2) *Vice President: vacant Governors *Governor of Buenos Aires Province: Carlos Ruckauf (until 3 January); Felipe Solá (starting 3 January) *Governor of Catamarca Province: Oscar Castillo *Governor of Chaco Province: Ángel Rozas * Governor of Chubut Province: José Luis Lizurume * Governor of Córdoba: José Manuel De la Sota *Governor of Corrientes Province: Ricardo Colombi *Governor of Entre Ríos Province: Sergio Montiel *Governor of Formosa Province: Gildo Insfrán *Governor of Jujuy Province: Eduardo Fellner *Governor of La Pampa Province: Rubén Marín *Governor of La Rioja Province: Ángel Maza *Governor of Mendoza Province: Roberto Iglesias *Governor of Misiones Province: Carlos Rovira *Governor of Neuquén Province: Jorge Sobisch * Governor of Río Negro Province: Pablo Verani *Governor of Salta Province: Juan Carlos Romero * Governor of San Juan Province: Alfredo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaluation
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a ''revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to other major curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corralito
Corralito () was the informal name for the economic measures taken in Argentina at the end of 2001 by Minister of Economy Domingo Cavallo in order to stop a bank run which implicated a limit of cash withdrawals of 250 ARS per week (at that time 1 USD = 1 ARS). Electronic transfers and credit and debit card payments were not disrupted. The Spanish word ''corralito'' is the diminutive form of ''corral'', which means "corral, animal pen, enclosure"; the diminutive is used in the sense of "small enclosure" and in Argentina also "a child's playpen". This expressive name alludes to the restrictions imposed by the measure. The term was coined by the journalist Antonio Laje. Background and initial measures In 2001, Argentina was in the midst of a crisis: heavily indebted, with an economy in complete stagnation (an almost three-year-long recession), and the exchange rate was fixed at one U. S. dollar per Argentine peso by law, which made exports uncompetitive and effectively dep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Flight
Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence or as the result of a political event such as regime change or economic globalization. Such events could be an increase in taxes on capital or capital holders or the government of the country defaulting on its debt that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic strength. This leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected country—depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime. This fall is particularly damaging when the capital belongs to the people of the affected country because not only are the citizens now burdened by the loss in the economy and devaluation of their currency but their assets have lost much of their nominal valu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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