Jorge Remes Lenicov (born 1948) is an Argentine

economist An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are ...

and politician who served as Minister of Economy and Production from January 3 till April 27, 2002. His short term was unpopular. President

Eduardo Duhalde Eduardo Alberto Duhalde (; born 5 October 1941) is an Argentine Peronist politician who served as the interim President of Argentina from January 2002 to May 2003. He also served as Vice President and Governor of Buenos Aires in the 1990s. B ...

had inherited a bankrupt country. Remes Lenicov decided on an extreme freezing of the bank deposits, which was then coupled with the so-called ''pesificación'' ("peso-ification", a forced transformation of all dollar-denominated accounts into pesos at an arbitrary fixed exchange rate), and a regulated

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 curre ...

. The

fixed exchange rate system 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 ...

was abandoned soon afterwards, which was followed by a large

depreciation In accountancy, depreciation is a term that refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the ...

. Afterwards Remes Lenicov served as Argentine ambassador to the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...

till 2011.

References

1948 births Argentine people of Russian descent People from La Plata National University of La Plata alumni Argentine economists Justicialist Party politicians Argentine Ministers of Finance Living people {{argentina-economist-stub