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ARGENTINA WEIGHS FIRST RATE HIKE SINCE SEPT. AFTER CPI HIT 103%

ARGENTINA WEIGHS FIRST RATE HIKE SINCE SEPT. AFTER CPI HIT 103%

Business

Argentina’s economy has a complex history that has become shaped by a variety of factors. Moreover, including political instability, economic policies, international relations, and natural resources.

At the beginning of the 20th century, Argentina was one of the world’s wealthiest countries, due to its abundant agricultural and mineral resources. However, political instability, corruption, and the impact of the Great Depression led to a decline in the economy during the 1930s and 1940s.

In the 1950s and 1960s, the government implemented import substitution policies, which aimed to promote domestic industrialization by reducing reliance on foreign imports. This policy led to some economic growth, but also resulted in a lack of competitiveness and inflation.

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In the 1970s, the economy was hit by a combination of external shocks, including a global oil crisis and rising interest rates, as well as internal factors such as political instability and terrorism. This led to a period of hyperinflation and economic stagnation.

In the 1990s, the government implemented market-oriented reforms, including privatization and deregulation, which led to a period of economic growth and stability. However, the economic crisis of 2001, which was triggered by a combination of factors including high levels of public debt and currency devaluation, led to a sharp decline in the economy and a period of political and social unrest.

Since then, the government has implemented a variety of measures aimed at stabilizing the economy, including debt restructuring, currency controls, and social welfare programs. Despite these efforts, the economy has struggled to recover and remains vulnerable to external factors such as fluctuations in commodity prices and global economic conditions.

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ARGENTINA WEIGHS FIRST RATE HIKE SINCE SEPT. AFTER CPI HIT 103%