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Banco Central De La República Argentina
The Central Bank of the Argentine Republic (, BCRA) is the central bank of Argentina, being an autarchic entity. Article 3 of the Organic Charter lists the objectives of this Institution: “The bank aims to promote, to the extent of its powers and within the framework of the policies established by the national government, monetary stability, financial stability, employment, and economic development with social equity." Establishment Established by six Acts of Congress enacted on May 28, 1935, the bank replaced Argentina's currency board, which had been in operation since 1899. Its first president was Ernesto Bosch, who served in that capacity from 1935 to 1945. The Central Bank's headquarters on San Martín Street (in the heart of Buenos Aires' financial district, known locally as the ''city''), was originally designed in 1872 by architects Henry Hunt and Hans Schroeder. Completed in 1876, the Italian Renaissance-inspired building initially housed the Mortgage Bank of the P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Ownership
State ownership, also called public ownership or government ownership, is the ownership of an Industry (economics), industry, asset, property, or Business, enterprise by the national government of a country or State (polity), state, or a public body representing a community, as opposed to an individual or Private property, private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from Public good, public goods and government services financed out of a Government budget, government's general budget. Public ownership can take place at the Central government, national, regional government, regional, local government, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, Collective ownership, collective/cooperative, and common ownership. In marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco Hipotecario
Banco Hipotecario S.A. (Buenos Aires Stock Exchange, BCBA]BHIP is a commercial bank and mortgage lender in Argentina. whose operation is based on loans with real guarantee. It was founded in 1886 to solve the housing problem. The bank was privatized in 1997. Faced with the prospect of bankruptcy, in 2005 the State became its majority shareholder. It is a public limited company, with majority state participation but private administration that is dedicated to loans and other financial activities. History The institution was chartered on September 24, 1886, as the ''Banco Hipotecario Nacional'' (''National Mortgage Bank'') by a bill (Law 1804) signed by President Julio Roca. The bank pioneered mortgage loan, mortgage lending on extended, low-interest terms in Argentina, and thus contributed to consolidating a modern Argentine economy (a policy centerpiece of the Generation of '80, as Roca and his allies were known). The bank continued to grow and, during the administration of Pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Domingo Cavallo
Domingo Felipe Cavallo (born July 21, 1946) is an Argentine economist and politician. Between 1991 and 1996, he was the Minister of Economy during Carlos Menem's presidency. He is known for implementing the convertibility plan, which established a pseudo-currency board with the United States dollar and allowed the dollar to be used for legal contracts. This brought the inflation rate down from over 1,300% in 1990 to less than 20% in 1992 and nearly to zero during the rest of the 1990s. He implemented pro-market reforms which included privatizations of state enterprises. Productivity per hour worked during his five-years as minister of Menem increased by more than 100%. In 2001, he was the economy minister for nine months during the 1998–2002 Argentine great depression. During a bank run, he implemented a restriction on cash withdrawing, known as '' corralito''. This was followed by the December 2001 riots in Argentina and the fall of Fernando de la Rúa as president. Caval ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Historical Exchange Rates Of Argentine Currency
The following table contains the monthly historical exchange rate of the different currencies of Argentina, expressed in Argentine currency units per United States dollar. The exchange rate at the end of each month is expressed in: * * * * * The value of one current peso is ten trillion (m$n), the currency in use from 1881 to 1969. It is also equal, as of the end of 2024, to 4.5 quadrillion 1914-era pesos with the U.S. dollar as reference – an average annual depreciation relative to the dollar of 28% (i.e. an annual increase of the value of the dollar of 39%). See also * Economic history of Argentina ** 2018–present Argentine monetary crisis * Latin American debt crisis * ("The Lost Decade"; during the 1980s) Sources Información Económica al Día: Dinero y Bancos, Ministerio de Economía de la República Argentinaaverage monthly exchange rates External links BCRA – Banco Central de la República Argentina {{Economy of Argentina Economic history ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indexation
Indexation is a technique to adjust income payments by means of a price index, in order to maintain the purchasing power of the public after inflation, while deindexation is the unwinding of indexation. It is often used to make sure regular payments, such as Pension, pension payments keep pace with inflation, so that they have the same value in real terms over time. Overview From a macroeconomics standpoint there are four main categories of indexation: # wage indexation, # financial instruments rate indexation, # tax rate indexation, and # exchange rate indexation. The first three are indexed to inflation. The last one is typically indexed to a foreign currency, mainly the US dollar. Any of these different types of indexation can be reversed (deindexation). Applying a cost-of-living escalation Cost-of-living index, COLA clause to a stream of periodic payments protects the real value of those payments and effectively transfers the risk of inflation from the payee to the payor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peso Ley
The peso ley 18.188 (ARY; unofficially ARL; ), usually known as either ''peso'' or, to distinguish it from the earlier ''peso moneda nacional'', informally as ''peso ley'', was the currency of Argentina between January 1, 1970, and May 5, 1983. It was subdivided into 100 centavos. Its symbol was ''$L'', sometimes ''$''. Its name comes from law 18188 which established it, effective April 5, 1969. History The peso ley replaced the Argentine peso moneda nacional, peso moneda nacional at a rate of 100 to 1. It was itself replaced by the Argentine peso argentino, peso argentino at a rate of 10,000 to 1. It was later replaced by the Argentine peso (1983–1985), Argentine peso on May 5th 1983. Coins In 1970 coins were introduced in denominations of 1, 5, 10, 20 and 50 centavos. As inflation eroded the currency's value, higher denominations were introduced: 1 peso in 1974, 5 and 10 pesos in 1976, and 50 and 100 pesos in 1978. Centavo Peso Banknotes Banknotes were issued in the fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin American Debt Crisis
The Latin American debt crisis (; ) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as '' La Década Perdida'' (The Lost Decade), when Latin American countries reached a point where their foreign debt exceeded their earning power, and they could not repay it. The IMF's response to the crisis has been criticized for prolonging unsustainable borrowing and transferring private banking losses onto taxpayers, which deepened the region’s debt overhang and delayed necessary market corrections. Origins In the 1960s and 1970s, many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization, especially infrastructure programs. These countries had soaring economies at the time, so the creditors were happy to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Economy Of Argentina
The Ministry of Economy () of Argentina is the country's state treasury and a ministry of the national executive power that manages economic policy. The Ministry of Economy is one of the oldest ministries in the Argentine government, having existed continuously since the formation of the first Argentine executive in 1854, in the presidency of Justo José de Urquiza – albeit under the name of Ministry of the Treasury. The current minister responsible is Luis Caputo, who has served since 2023 in the cabinet of Javier Milei. Headquarters The Argentine Ministry of the Treasury has, since the building's 1939 inaugural, been based in a 14-story Rationalist office building designed by local architect Carlos Pibernat. The Economy Ministry building was built on a 0.57 ha (1.4 ac) Montserrat neighborhood lot facing the Casa Rosada presidential office building to the north, and the Defense Ministry ( Libertador Building) to the easta government building also designed by Pibernat. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Juan Perón
Juan Domingo Perón (, , ; 8 October 1895 – 1 July 1974) was an Argentine military officer and Statesman (politician), statesman who served as the History of Argentina (1946-1955), 29th president of Argentina from 1946 to Revolución Libertadora, his overthrow in 1955 and again as the 40th president from 1973 to his death in 1974. He is the only Argentine president elected three times and holds the September 1973 Argentine presidential election, highest percentage of votes in clean elections with universal suffrage. Perón is arguably the most important and controversial Argentine politician of the 20th century and his influence extends to the present day. Perón's ideas, policies and movement are known as Peronism, which continues to be one of the major forces in Argentine politics. On 1 March 1911, Perón entered military college, graduating on 13 December 1913. Over the years, he rose through the military ranks. In 1930, Perón supported the coup against President Hipólito ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escrow
An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word , meaning a scrap of paper or a scroll of parchment; this indicated the deed that a third party held until a transaction was completed. Types Escrow generally refers to money held by a third party on behalf of transacting parties. It is mostly used regarding the purchase of shares of a company. It is best known in the United States in the context of the real estate industry (specifically in m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roca–Runciman Treaty
The Roca–Runciman Treaty was a commercial agreement signed on 1 May 1933 between Argentina and the United Kingdom signed in London by the Vice President of Argentina, Julio Argentino Roca, Jr., and the president of the British Board of Trade, Sir Walter Runciman. As a byproduct of Black Tuesday and the Wall Street crash of 1929, the United Kingdom, principal economic partner of Argentina in the 1920s and 1930s, took measures to protect the meat supply market in the Commonwealth. At the Imperial Preference negotiations in Ottawa, bowing to pressure, mainly from Australia and South Africa, Britain decided to severely curtail imports of Argentine beef. The idea was to enact monthly cuts of 5% during the first year of the agreement. The plan provoked an immediate outcry in Buenos Aires, and the government dispatched Vice-President Roca and a team of negotiators to London. On 1 May 1933, they concluded a bilateral treaty known as the ''Roca-Runciman Treaty''. The Argentine Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
