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Presidency Of Carlos Menem
Carlos Menem was president of Argentina from 1989 to 1999. Economic policy When Menem began his presidency, there was a huge hyperinflation and recession. The first measure was a mandatory conversion of time deposits into government bonds. It generated more recession, but hyperinflation was lowered. Despite being a Peronist, Menem privatized several state-owned companies, such as telephones and airlines. One of the leading privatizations was YPF, engaged in the exploration and production of oil and gas. His fourth economy minister, Domingo Cavallo, deepened the neoliberal reforms. He proposed a Convertibility Plan that set a one-to-one fixed exchange rate between the Argentine peso and the US dollar. The law also limited public expenditures, but this was frequently ignored. A dramatic influx of foreign direct investment funds helped tame inflation (from 5,000% a year in 1989 to single digits by 1993) and improved long-stagnant productivity, though at the cost of considera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Casa Rosada
The ''Casa Rosada'' (, eng, Pink House) is the office of the president of Argentina. The palatial mansion is known officially as ''Casa de Gobierno'' ("House of Government" or "Government House"). Normally, the president lives at the Quinta de Olivos, the official residence of the president of Argentina, which is located in Olivos, Greater Buenos Aires. The characteristic color of the Casa Rosada is baby pink, and it is considered one of the most emblematic buildings in Buenos Aires. The building also houses a museum, which contains objects relating to former presidents of Argentina. It has been declared a National Historic Monument of Argentina. History The ''Casa Rosada'' sits at the eastern end of the Plaza de Mayo, a large square which since the 1580 foundation of Buenos Aires has been surrounded by many of the most important political institutions of the city and of Argentina. The site, originally at the shoreline of the Río de la Plata, was first occupied by the "Fort of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Exchange Rate
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Country Risk
Country risk refers to the risk of investing or lending in a country, arising from possible changes in the business environment that may adversely affect operating profits or the value of assets in the country. For example, financial factors such as currency controls, devaluation or regulatory changes, or stability factors such as mass riots, civil war and other potential events contribute to companies' operational risks. This term is also sometimes referred to as political risk; however, country risk is a more general term that generally refers only to risks affecting all companies operating within or involved with a particular country. Political risk analysis providers and credit rating agencies use different methodologies to assess and rate countries' comparative risk exposure. Credit rating agencies tend to use quantitative econometric models and focus on financial analysis, whereas political risk providers tend to use qualitative methods, focusing on political analysis. Howev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Russian Financial Crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries. Background and course of events The Russian economy had set up a path for improvement after the Soviet Union had split into different countries. Russia was supposed to provide assistance to the former Soviet states and, as a result, imported heavily from them. In Russia, foreign loans financed domestic investments. When it was unable to pay back those foreign borrowings, the ruble devalued. In mid-1997 Russia had finally found a way out of inflation. The economic supervisors were happy about inflation coming to a standstill. Then the crisis hit and supervisors had to implement a new policy. Both Russia and the countries that exported to it experienced fiscal deficits. The cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Asian Financial Crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid and worries of a meltdown subsided. The crisis started in Thailand (known in Thailand as the ''Tom Yam Kung crisis''; th, วิกฤตต้มยำกุ้ง) on 2 July, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, most of Southeast Asia and later South Korea and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. South Korea, Indonesia and Thailand were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tequila Crisis
The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight. During the 1994 presidential election, the incumbent administration embarked on an expansionary fiscal and monetary policy. The Mexican treasury began issuing short-term debt instruments denominated in domestic currency with a guaranteed repayment in U.S. dollars, attracting foreign investors. Mexico enjoyed investor confidence and new access to international capital following its signing of the North American Free Trade Agreement (NAFTA). However, a violent uprising in the state of Chiapas, as well as the assassination of the presidential candidate Luis Donaldo Colosio, resulted in political instability, causing investors to place an increased risk premium on Mexican assets. In response, the Mexican central bank intervened in the fore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arturo Frondizi
Arturo Frondizi Ércoli (October 28, 1908 – April 18, 1995) was an Argentines, Argentine lawyer, journalist, teacher and politician, who was elected President of Argentina and ruled between May 1, 1958 and March 29, 1962, when he was overthrown by a Coups d'état in Argentina, military coup. His government was characterized by an ideological shift, inspired by Rogelio Julio Frigerio, Rogelio Frigerio, towards a type of developmentalism less promoted by the State and more oriented to the development of heavy industry as a consequence of the installation of multinational companies. Its socio-labor, oil and educational policy had peaks of high conflict, with large demonstrations and strikes by the labor movement and the student movement, as well as numerous attacks against the government for political purposes in which 17 civilians and soldiers were murdered. The Frondizi government suffered great pressure from the armed forces, which was imposed on it by the liberal Economy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raúl Alfonsín
Raúl Ricardo Alfonsín (12 March 1927 – 31 March 2009) was an Argentine lawyer and statesman who served as President of Argentina from 10 December 1983 to 8 July 1989. He was the first democratically elected president after more than seven years of military dictatorship, and is considered the "father of modern democracy in Argentina". Ideologically, he identified as a Radical and a social democrat, serving as the leader of the Radical Civic Union from 1983 to 1991, 1993 to 1995, 1999 to 2001, with his political approach being known as "Alfonsinism". Born in Chascomús, Buenos Aires Province, Alfonsín began his studies of law at the National University of La Plata and was a graduate of the University of Buenos Aires. He was affiliated with the Radical Civic Union (UCR), joining the faction of Ricardo Balbín after the party split. He was elected a deputy in the legislature of the Buenos Aires province in 1958, during the presidency of Arturo Frondizi, and a national de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Session Of The U
A joint or articulation (or articular surface) is the connection made between bones, ossicles, or other hard structures in the body which link an animal's skeletal system into a functional whole.Saladin, Ken. Anatomy & Physiology. 7th ed. McGraw-Hill Connect. Webp.274/ref> They are constructed to allow for different degrees and types of movement. Some joints, such as the knee, elbow, and shoulder, are self-lubricating, almost frictionless, and are able to withstand compression and maintain heavy loads while still executing smooth and precise movements. Other joints such as sutures between the bones of the skull permit very little movement (only during birth) in order to protect the brain and the sense organs. The connection between a tooth and the jawbone is also called a joint, and is described as a fibrous joint known as a gomphosis. Joints are classified both structurally and functionally. Classification The number of joints depends on if sesamoids are included, age of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customs Union
A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas). Common competition policy is also helpful to avoid ''competition deficiency''. Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. It is the third stage of economic integration. Every economic union, customs and monetary union and economic and monetary union includes a customs union. WTO definition The General Agreement on Tariffs and Trade, part of the World Trade Organization framework defines a customs union in the following way: Historical background The German Customs Union, the Zollverein, which was established in 1834, and gradu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercosur
The Southern Common Market, commonly known by Spanish abbreviation Mercosur, and Portuguese Mercosul, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina, Brazil, Paraguay, and Uruguay. Venezuela is a full member but has been suspended since 1 December 2016. Associate countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname. Mercosur's origins are linked to the discussions for the constitution of a regional economic market for Latin America, which go back to the treaty that established the Latin American Free Trade Association in 1960, which was succeeded by the Latin American Integration Association in the 1980s. At the time, Argentina and Brazil made progress in the matter, signing the Iguaçu Declaration (1985), which established a bilateral commission, which was followed by a series of trade agreements the following year. The Integration, Cooperation and Developme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Investment
Fixed investment in economics is the purchasing of newly produced fixed capital. It is measured as a flow variable – that is, as an amount per unit of time. Thus, fixed investment is the accumulation of physical assets such as machinery, land, buildings, installations, vehicles, or technology. Normally, a company balance sheet will state both the amount of expenditure on fixed assets during the quarter or year, and the total value of the stock of fixed assets owned. Fixed investment contrasts with investments in labour, ongoing operating expenses, materials or financial assets. Financial assets may also be held for a fixed term (for example, bonds) but they are not usually called "fixed investment" because they do not involve the purchase of physical fixed assets. The more usual term for such financial investments is "fixed-term investments". Bank deposits committed for a fixed term such as one or two years in a savings account are similarly called "fixed-term deposits". Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
