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Lessons from the Crisis in Argentina

Author

Listed:
  • Ms. Christina Daseking
  • Mr. Atish R. Ghosh
  • Mr. Timothy D. Lane
  • Mr. Alun H. Thomas

Abstract

In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hardships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported programs through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both for countries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.

Suggested Citation

  • Ms. Christina Daseking & Mr. Atish R. Ghosh & Mr. Timothy D. Lane & Mr. Alun H. Thomas, 2005. "Lessons from the Crisis in Argentina," IMF Occasional Papers 2005/003, International Monetary Fund.
    • Handle: RePEc:imf:imfops:2005/003
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17402
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    Citations

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    Cited by:

    1. Benjamin Hébert & Jesse Schreger, 2017. "The Costs of Sovereign Default: Evidence from Argentina," American Economic Review, American Economic Association, vol. 107(10), pages 3119-3145, October.
    2. Lagunes, Mario & Watkins, Karen, 2009. "Efectos de las Crisis Anticipadas y No Anticipadas sobre El Contagio Financiero Internacional," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(08), pages 101-148, primer se.
    3. Samarakoon, Lalith P., 2024. "What broke the pearl of the Indian ocean? The causes of the Sri Lankan economic crisis and its policy implications," Journal of Financial Stability, Elsevier, vol. 70(C).
    4. Martinoty, Laurine, 2022. "Partner’s income shock and female labor supply. Evidence from the repeal of Argentina’s convertibility law," World Development, Elsevier, vol. 159(C).

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