Corralón

Corralón was the informal name for the economic measures taken in Argentina at the beginning of 2002 by President Eduardo Duhalde during a bank run in which deposits and debt in dollars were exchanged to local currency at 1.4 per dollar for deposits and 1.0 for debt (this was also called pesificación asimétrica). Previously, the withdrawal of dollars was limited to $250 per week. After the forced exchanged, people no longer had any dollars on the system and those who had savings in US dollars lost 65% of their deposited value.

History

Argentina's situation worsened for several months. The corralito was hardened during the interim rule of President Eduardo Duhalde and turned into a corralón ("big corral"). The corralón differed from the corralito in that most deposits were forcibly exchanged for a series of bonds denominated in pesos. The dollar-denominated accounts were automatically exchanged for pesos and peso bonds at a predetermined rate. The real necessity of such decision was questioned by several observers at the time, and some suggested this move benefited some large companies which were insolvent (or nearly so) whose owners had sent their dollars abroad before the corralito; these owners were thus able to repay their companies' now devalued debts by converting much fewer dollars than it would have taken previously.^[1]

The peso was first devalued (from 1.0 to 1.4 pesos/dollar)^[2] and then floated, thereby quickly depreciating to a maximum rate of nearly 4 pesos per dollar.^[3] Argentina's economy then gradually began a recovery from its abysmal state, spurred by exports that benefited from the heightened exchange rate, and by the declaration of default on most of its debt, which left the government with more money available to expand the economy.^[4]

Many private enterprises and also the Province of Buenos Aires were favoured by this measure as they managed to decrease their debts. Nine years later, several people had not yet been able to recover their savings because of the pace of justice in Argentina. However, debtors were able to purchase properties and other items by paying their debts at the 1 to 1 exchange rate.

References

^ Krishock, Dan. "74 and counting". Buenos Aires Herald. Archived from the original on June 4, 2006. Retrieved 2006-07-06.
^ "Cautious reaction to peso devaluation" - BBC News.
^ "El peso argentino toca fondo" - BBC Mundo. (in Spanish)
^ "Becoming a serious country" - Economist.

Read other articles:

Elisar von Kupffer

Elisàr von Kupffer (1917) Elisàr August Emanuel von Kupffer (20 Februari 1872 – 31 Oktober 1942) adalah seniman, antolog, penyair, sejarawan, penerjemah, pemain drama Jerman Baltik. Ia menggunakan pseudonim Elisarion dalam banyak tulisannya.[1] Referensi ^ Elisàr von Kupffer, 1872–1942. Sanctuarium Artis Elisarion. Diakses tanggal 5 Januari 2018. Artikel bertopik biografi tokoh ini adalah sebuah rintisan. Anda dapat membantu Wikipedia dengan mengembangkannya.lbs

Gocheok Sky Dome

Gocheok Sky Dome Informasi stadionPemilikKota SeoulLokasiLokasi430, Gyeongin-ro, Gocheok-dong, Guro-gu, Seoul, Korea SelatanKoordinat37°29′53.6″N 126°52′02.1″E / 37.498222°N 126.867250°E / 37.498222; 126.867250Koordinat: 37°29′53.6″N 126°52′02.1″E / 37.498222°N 126.867250°E / 37.498222; 126.867250KonstruksiMulai pembangunanFebruari 2009Dibuat2009–2015Dibuka15 September 2015Biaya pembuatan240 miliar wonArsitekIlgeon Arch...

Aurélien Rousseau

Pour les articles homonymes, voir Rousseau. Si ce bandeau n'est plus pertinent, retirez-le. Cliquez ici pour en savoir plus. Cet article semble être une page autobiographique ou autocentrée qui a fait l'objet de modifications substantielles, soit par le principal intéressé, soit par une ou plusieurs personnes en lien étroit avec le sujet (novembre 2023). Il peut être nécessaire de l'améliorer pour respecter le principe de neutralité de point de vue. Veuillez consulter la page de dis...

Lys Kernow

County building in Truro, Cornwall, England Lys KernowLys Kernow in 2023LocationTruro, CornwallCoordinates50°15′36″N 5°04′09″W / 50.2600°N 5.0692°W / 50.2600; -5.0692Built1966ArchitectFrancis Kenneth Hicklin and Alan GrovesArchitectural style(s)Brutalist style Listed Building – Grade IIDesignated24 April 1998Reference no.1323700 Location of Lys Kernow in Cornwall Lys Kernow, known as New County Hall between 1966 and 2009, is a municipal facility at T...

Partai untuk Hewan

Partai untuk Hewan Partij voor de DierenPemimpinEsther OuwehandKetua umumMichiel KnolKetua fraksi di SenatNiko KoffemanKetua fraksi di Dewan Perwakilan RakyatEsther OuwehandKetua fraksi di Parlemen EropaAnja HazekampDibentukOktober 2002 (2002-10)Kantor pusatAmsterdamSayap pemudaPINK!ThinktankNicolaas G. Pierson foundationIdeologiPolitik hijau[1]Pembebasan hewanEuroskeptismePosisi politikTengah-kiri hingga Sayap kiriAfiliasi internasionalEuro Animal 7Kelompok Parlemen EropaEu...

Lesbian bar

Drinking establishment catering to lesbians The Lexington Club (1997–2015), a.k.a. The Lex, was San Francisco's last remaining lesbian bar Part of a series onLGBT topics LesbianGayBisexualTransgender Sexual orientation and gender Aromanticism Asexuality Gray asexuality Biology Bisexuality Pansexuality Demographics Environment Gender fluidity Gender identity Gender role Gender variance Homosexuality Intersex Non-heterosexual Non-binary gender Queer Queer h...

Wilhelm Filchner

Cet article est une ébauche concernant l’Antarctique. Vous pouvez partager vos connaissances en l’améliorant (comment ?) selon les recommandations des projets correspondants. Wilhelm FilchnerPortrait de Wilhelm FilchnerBiographieNaissance 13 septembre 1877MunichDécès 7 mai 1957 (à 79 ans)Zurich, SuisseNationalité allemandeFormation Académie de guerre de PrusseActivités Explorateur, chercheur, écrivain, voyageurAutres informationsMembre de Académie LéopoldineConflit P...

Pro Patria et Libertate Sezione Calcio 1974-1975

Voce principale: Aurora Pro Patria 1919. Pro Patria et Libertate Sezione CalcioStagione 1974-1975Sport calcio Squadra Pro Patria Allenatore Adelio Crespi Presidente Peppino Mancini Serie D1° (promosso in Serie C) Maggiori presenzeCampionato: Mela e Brusadelli (34 partite) Miglior marcatoreCampionato: Fornara (11) 1971-1972 1975-1976 Si invita a seguire il modello di voce Questa pagina raccoglie le informazioni riguardanti la Pro Patria et Libertate nelle competizioni ufficiali della st...

Granby Zoo

Zoo in Canada This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Granby Zoo – news · newspapers · books · scholar · JSTOR (March 2021) (Learn how and when to remove this message) Granby ZooDate opened1953Locationboulevard David Bouchard NordGranby, Quebec, CanadaNo. of animals1,000No. of species200MembershipsWA...

Scoil Colmcille, Letterkenny

Primary school in IrelandScoil ColmcilleLocationConvent Road, Letterkenny, County DonegalIrelandInformationTypePrimary schoolReligious affiliation(s)Roman Catholic[1]Established1974GenderBoysEnrollment342[1]LanguageEnglishColour(s) NewspaperThe Green EcoWebsitescoilcolmcillelk.ie Scoil Colmcille is a Roman Catholic[1] boys' primary school in County Donegal, Ireland, located on Letterkenny's Convent Road, across from the Loreto Convent. History The school st...

Avalanche (Blackpool Pleasure Beach)

Roller coaster in Blackpool, UK This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Avalanche Blackpool Pleasure Beach – news · newspapers · books · scholar · JSTOR (June 2020) (Learn how and when to remove this message) AvalancheAvalanche, Pleasure BeachPleasure Beach ResortLocationPleasure Beach ResortCoo...

تقنية اورشيد

هذه المقالة يتيمة إذ تصل إليها مقالات أخرى قليلة جدًا. فضلًا، ساعد بإضافة وصلة إليها في مقالات متعلقة بها. (فبراير 2021) تقنية اورشيدOrchid Technologyمعلومات عامةالتأسيس 1982؛ منذ 42 سنوات (1982)الاختفاء 1994 (1994)النوع Private Companyالمقر الرئيسي كاليفورنيا المنظومة الاقتصاديةالمنتجا�...

The Howie Carr Show

American radio talk-show Radio show The Howie Carr ShowGenreConservative talkRunning time4 hours, weekdaysCountry of originUSALanguage(s)EnglishHome stationWRKOHosted byHowie CarrProduced byTaylor CormierRecording studioBrighton, MassachusettsOriginal release1994 –presentWebsitehowiecarrshow.com The Howie Carr Show is an American radio talk-show presented by journalist and author Howie Carr. Its flagship station is WRKO 680 in Boston, Massachusetts, on which the show airs every weekday...

Dominic Iorfa (1995)

Dominic IorfaIorfa con la maglia del Wolverhampton nel 2015.Nazionalità Inghilterra Altezza193 cm Peso78 kg Calcio RuoloDifensore Squadra Sheffield Weds CarrieraGiovanili 2006-2010 Southend Utd2010-2013 Wolverhampton Squadre di club1 2013-2014 Wolverhampton0 (0)2014→ Shrewsbury Town7 (0)2014-2017 Wolverhampton84 (0)2017-2018→ Ipswich Town23 (1)2018-2019 Wolverhampton0 (0)2019- Sheffield Weds114 (5)[1] Nazionale 2013 Inghilterra ...

Β衰变

β-衰變（Beta-minus decay）示意圖 β衰變，又稱貝塔衰变，是一種放射性衰變，為原子核內核子種類的轉換過程。放射性核素發生β衰變時，原子核會放出β粒子（即電子或正電子）和微中子，且衰變後原子的質量數不變，但原子序及中子數會發生改變。[1]β衰變根據其衰變過程、釋出的輻射和衰變產物的不同，可分為“负β衰变”和“正β衰变”兩種。此外，電子俘獲有時...

Schoellkopf Power Station

United States historic placeSchoellkopf Power Station No. 3 SiteU.S. National Register of Historic Places Schoellkopf Power Station No. 3 SiteLocationEast Bank of Niagara River, 1,600 feet downriver from Rainbow Bridge, Niagara Falls, New YorkCoordinates43°5′35.44″N 79°3′46.29″W / 43.0931778°N 79.0628583°W / 43.0931778; -79.0628583NRHP reference No.13000029[1]Added to NRHPFebruary 20, 2013 The Schoellkopf Power Station was built on land o...

Mohd Hamdan Abdullah

Yang Amat Berbahagia TunMohd Hamdan Abdullah Yang di-Pertua Negeri Sabah ke-4Masa jabatan28 Juli 1975 – 10 Oktober 1977PendahuluFuad StephensPenggantiAhmad Koroh Informasi pribadiLahirIndan bin Kari(1922-02-22)22 Februari 1922Kampung Labuaya, Tuaran, Borneo Utara BritaniaMeninggal10 Oktober 1977(1977-10-10) (umur 55)Kota Kinabalu, Sabah, MalaysiaSuami/istri1. Selisir Judi2. Dulimah AmpitOrang tuaKari Angur (Mendiang) (ayah)Boyod Umpun (Mendiang) (ibu) Penghargaan(1977) Grand C...

Helvetic Confessions

16th century Swiss reformed confessions of faith Not to be confused with Helvetic Consensus. Latin & German manuscript, Confessio Helvetica Prior Wikisource has an English translation of the Second Helvetic Confession The Helvetic Confessions are two documents expressing the common belief of Reformed churches, especially in Switzerland, whose primary author was the Swiss Reformed theologian Heinrich Bullinger. The First Helvetic Confession (1536) contributed to the confessional unity of t...

Veríssimo (Brasile)

VeríssimocomuneLocalizzazioneStato Brasile Stato federato Minas Gerais MesoregioneTriângulo Mineiro e Alto Paranaíba MicroregioneUberaba AmministrazioneSindacoReinaldo Sebastião Alves TerritorioCoordinate19°40′01″S 48°18′30″W19°40′01″S, 48°18′30″W (Veríssimo) Altitudine779 e 674 m s.l.m. Superficie1 031,823 km² Abitanti3 483[1] (2010) Densità3,38 ab./km² Altre informazioniPrefisso34 Fuso orarioUTC-3 Codice IBGE3171105 Nom...

Nikola Kozomara

Cet article est une ébauche concernant un coureur cycliste serbe. Vous pouvez partager vos connaissances en l’améliorant (comment ?). Pour plus d’informations, voyez le projet cyclisme. Nikola KozomaraInformationsNaissance 16 décembre 1991 (32 ans)Nationalité serbeÉquipes non-UCI 2012Partizan Beograd2013Hemus 18962015-2016Metalac Quick KraljevoÉquipes UCI 2010Partizan Srbija2011Partizan Powermove2017Dare Viator PartizanPrincipales victoires Champion de Serbie sur route (2...

PROFILPELAJAR.COM